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Commodities Briefing - Categorized | Market Moves, Oil more

Non-OPEC oil supplies predicted to rise by 2014 - NBK

Posted on 17 December 2013

Oil prices rebounded from their early November lows as markets digested the Iranian nuclear deal and responded to a flow of positive global economic data, according to a National Bank of Kuwait (NBK) report.
With non-OPEC supplies expected to rise strongly in 2014, OPEC may still need to cut output in order to maintain prices close to USD 100, it said An oil price of between USD 103 and USD 105 pb in FY13/14 could generate a budget surplus for Kuwait of around KD 12 bn this fiscal year, equivalent to around 24 percent of GDP, the report showed………………………………………..Full Article: Source


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