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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC oil output rises as group sees more demand growth

Posted on 13 February 2014

OPEC crude production gained for a second month in January as the group boosted its forecast for global oil-demand growth this year. The Organization of Petroleum Exporting Countries, responsible for 40 percent of the world’s oil, said that supply from its 12 members increased by 28,000 barrels a day to 29.71 million barrels a day in January as Libya pumped more, according to its monthly report.
That compares with 29.68 million barrels a day in December, OPEC said, citing data from secondary sources. The group raised its estimate for global demand growth amid an improving outlook for the world economy………………………………………..Full Article: Source


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