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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC warns delayed recovery could put oil market balance at risk

Posted on 12 June 2013

Any slowdown in the economic recovery may upset an expected balance in the oil market for the second half of this year, OPEC said in a report Tuesday as it slightly downgraded its global oil-demand growth views. But the Organization of the Petroleum Exporting Countries warned that the predicted balance could be threatened if a strong hurricane season in the U.S. disrupted production.
In its monthly oil-market report for June, OPEC–members of which produce more than one in three barrels of oil consumed each day in the world–said “uncertainties on both the demand and supply side have the potential to undermine the expected market balance in the second half of 2013.”……………………………………….Full Article: Source


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