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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC sees lower demand as U.S. crude output rises

Posted on 11 April 2014

OPEC trimmed estimates for the amount of crude it will need to pump this year amid rising U.S. supplies, and predicted that a “supply buffer” will accumulate before demand peaks in the summer.
The Organization of Petroleum Exporting Countries, responsible for 40 percent of the world’s oil supply, will need to provide an average of 29.6 million barrels a day of crude this year, according to its monthly market report………………………………………..Full Article: Source


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