30.12.2013 - OPEC ministers see no 2014 glut amid signs of demand
Oil ministers from Organisation of Petroleum Exporting Countries’ (OPEC) three biggest members rejected the possibility of a glut in global crude supply next year amid an increase in US output and efforts by Iran and Libya to add barrels to the market. The OPEC, which provides about 40 percent of the world’s oil, won’t need to cut production in 2014 because growth in demand can absorb the additional crude, the ministers from Saudi Arabia, Iraq and Kuwait said Monday after a meeting of Arab oil exporters in Doha, Qatar...............................................Full Article: Source
Print