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Iran official: OPEC to take up demand drop in 2012

Posted on 28 November 2011

The next meeting of the Organization of Petroleum Exporting Countries due Dec. 14 is set to look into an expected drop in oil demand early next year, a top Iranian oil official said Saturday.

Muhammad Ali Khatibi, Iran’s OPEC governor, told Dow Jones, “In the second quarter of 2012, demand will be lower; it is seasonal demand.” “Usually, ministers look at it [demand] and decide what the ceiling should be,” he added……………………………………….Full Article: Source


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