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Speculators boost bullish oil wagers on OPEC output drop: Energy

Posted on 14 April 2014

The group, which pumps about 40 percent of the world’s oil, reduced output to the lowest for March since 2011 as a standoff between the Libyan government and rebels kept exports near the lowest level since Muammar Qaddafi was driven from office.
Output from the Organization of Petroleum Exporting Countries fell for the fifth time in seven months, according to a Bloomberg News survey. The International Energy Agency, which advises oil-consuming countries, said April 11 that OPEC will have to pump more crude after a “steep drop” last month………………………………………..Full Article: Source


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