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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC trims oil demand growth forecast; March output drops

Posted on 11 April 2013

OPEC trimmed its estimate for global oil demand growth after the group’s crude production dropped last month. Worldwide oil consumption will rise this year by 800,000 barrels a day, or 0.9 percent, revised down from 840,000 last month, the Organization of Petroleum Exporting Countries said in its Monthly Oil Market Report.
Demand will rise to 89.66 million barrels a day in 2013 versus 88.87 million last year, OPEC estimated. The group’s output fell in March as Nigeria, Iran and Kuwait pumped less………………………………………..Full Article: Source

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