| With non-OPEC crude production on the rise - expanding at the fastest rate in two decades - the call on OPEC crude is getting lower. "The 2014 outlook .?.?. should give oil bulls some cause for alarm. Non-OPEC supply growth looks on track to hit a 20-year record next year, surpassing the 1.3 million barrels per day high reached in 2002," the Paris-based IEA underlined in its just released July Monthly Oil Report.
This growing, conventional and non-conventional, output outside the OPEC meant that the demand for OPEC crude will be about 1million bpd lower than the volumes it is currently pumping...............................................Full Article: Source
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