| OPEC and the U.S. government agreed on Tuesday that global oil markets could loosen further in the second half of the year, with prospects for demand dimming while non-OPEC supply races ahead more quickly than expected.
In its monthly report on market fundamentals, the U.S. Energy Information Administration, or EIA, cut its forecast for oil demand growth this year by 150,000 barrels per day to 810,000 bpd as the European crisis continues to weigh on the world economy...............................................Full Article: Source
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