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Commodities Briefing - Categorized | Market Moves, Oil more

Can hike oil output by 6mln bpd by 2018: OPEC

Posted on 22 October 2013

OPEC will be in a position to increase crude oil output by an additional 6mn barrels per day (bpd) by 2018 to offset declining production in the US and other places, according to its secretary general.
Speaking at the Oman Energy Forum, Abdalla Salem el Badri said, “The increase would make up for declining output elsewhere, in particular in the US, where tight-oil output is expected to start declining by then. OPEC output stood at 30.05mn bpd in September, down 400,000bpd from August levels.”……………………………………….Full Article: Source


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