Any slowdown in the economic recovery may upset an expected balance in the oil market for the second half of this year, OPEC said in a report Tuesday as it slightly downgraded its global oil-demand growth views. But the Organization of the Petroleum Exporting Countries warned that the predicted balance could be threatened if a strong hurricane season in the U.S. disrupted production.
In its monthly oil-market report for June, OPEC--members of which produce more than one in three barrels of oil consumed each day in the world--said "uncertainties on both the demand and supply side have the potential to undermine the expected market balance in the second half of 2013."..............................................Full Article: Source
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