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Commodities Briefing - Categorized | Market Moves, Oil more

U.S., Canada drive oil growth, OPEC says

Posted on 12 June 2013

The United States and Canada are expected to be the main drivers of oil supply growth from non-OPEC members, the cartel said in a report published Tuesday. The Organization of Petroleum Exporting Countries published its monthly oil market report for June. The 12-member cartel said it expected to see higher oil demand during the second half of 2013.
The demand increase was expected because of higher energy demand during summer months and a modest recovery in the global economy. OPEC said world oil demand should reach more than 90.5 million barrels per day during the second half of 2013, higher than the 88.8 million bpd during the first half………………………………………..Full Article: Source


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