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OPEC cuts 2013 estimate of call on its own crude to 29.71 mil b/d

Posted on 13 March 2013

OPEC Tuesday cut its estimate of demand for its crude in 2013 to 29.71 million b/d, down 70,000 b/d from its previous projection. In its latest monthly oil market report, OPEC said it estimated the call on OPEC crude in the first quarter of this year at 29.25 million b/d, down from a previous estimate of 29.39 million b/d.
This compares with the group’s actual production in February of 30.311 million b/d, according to secondary source estimates detailed in the group’s monthly report. The adjustment to the call on OPEC matched an increase in OPEC’s estimate of non-OPEC oil supply in 2013 to 53.98 million b/d, up 60,000 b/d from the previous estimate………………………………………..Full Article: Source


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