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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC sees higher demand, more oil pumping in 2013

Posted on 12 June 2013

OPEC predicted world oil demand will grow more quickly in the rest of 2013 and indicated the group can keep pumping more oil than the ouptut target it retained at a May 31 meeting without over-supplying the market.
The Organization of the Petroleum Exporting Countries in a monthly report forecast world oil demand would expand by 900,000 barrels per day (bpd) in the second half, up from 700,000 bpd in the first six months of 2013. “The second half of the year is expected to see higher demand,” said the report by OPEC’s economists………………………………………..Full Article: Source


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