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Opec likely to cut supply next year

Posted on 17 December 2012

The Organization of Oil Exporting Countries (OPEC) will likely consider supply cuts next year to prevent prices from falling and to protect Brent crude at $90-110/bbl, especially that the market remains well balanced with sufficient supplies ready to counter any short-term disruptions or heightened geopolitical risks, the National Commercial Bank said in its December “Saudi Economic Review”.
Saudi Arabia has been unilaterally decreasing its supply in recent months, curbing output to a 13-month low of 9.67 mb/d in November, the report said……………………………………..Full Article: Source


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