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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC sees U.S. shale boom eroding demand for 2014 crude

Posted on 11 July 2013

The Organization of Petroleum Exporting Countries forecast the world will need less of its crude next year, even as global oil demand growth rebounds to its strongest pace since 2010, amid competing supply sources.
Demand for OPEC’s crude will slip by 300,000 barrels a day next year to 29.6 million a day next year, or about 2.6 percent less than the 12-member group is pumping now, the organization said in its first set of forecasts for 2014………………………………………..Full Article: Source


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