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Commodities Briefing - Categorized | Investment, Oil more

OPEC investments fine, UAE official says

Posted on 11 January 2013

A UAE representative to the OPEC oil cartel said a modest outlook for 2013 doesn’t mean oil suppliers will cut back on investments. Ali Yabhouni, governor to the Organization of Petroleum Exporting Countries from the United Arab Emirates, told an energy forum in Abu Dhabi that he expected global demand to rise this year by 800,000 barrels per day.
That comes amid expectations that production from non-OPEC members could increase by 900,000 bpd, the Platts news service reports. “It will leave little room for OPEC producers to increase their production,” he said………………………………………..Full Article: Source

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