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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC sees oil market balanced for rest of 2014

Posted on 13 June 2014

Oil markets should be balanced during the second half of this year with extra production sufficient to meet growing demand, OPEC said on Thursday, suggesting oil prices may be fairly stable despite worries over lost supply.
Oil prices rose sharply on Thursday with Brent crude climbing above $112 for the first time since March on worries that violence in Iraq could disrupt supplies. But the Organization of the Petroleum Exporting Countries, which supplies a third of the world’s oil, said rising oil production should be more than sufficient to meet demand………………………………………..Full Article: Source


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