11.12.2014 - Opec opens door to emergency meeting with oil downgrade
Drop in global oil demand growth will raise bets that Opec will meet early next year to review output quotas amid ongoing slump in prices. Opec has slashed its oil demand growth forecast for next year in a move that could bring its members to the table in an emergency meeting to agree on cutting production in the first quarter of 2015. The group, which is comprised of 12 oil producing states mainly from the Middle East, said Wednesday that it now expects the world will require 70,000 barrels per day (bpd) less oil next year than it had previously anticipated. The cartel now expects that total global oil demand could reach 92.26m bpd next year...............................................Full Article: Source
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