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OPEC chief sees comfortable 2013 for oil

Posted on 14 November 2012

OPEC’s secretary-general said he was not worried about the oil market outlook for 2013, as the exporter group pumps a million barrels per day more than its official output target without weakening prices.
“I am not really worried. I’m looking forward to 2013. It will be, I hope, a comfortable year for OPEC and for the oil price,” Abdullah al-Badri said. OPEC is pumping 1 million bpd more than its output ceiling of 30 million bpd, he said, and according to OPEC forecasts, demand for the group’s oil will decline in 2013 to an average of 29.72 million bpd as nonmember countries expand supply………………………………………..Full Article: Source


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