22.06.2011 - BP economist says OPEC needs to boost oil output
A BP economist said Tuesday that the Organization of Petroleum Exporting Countries needs to boost crude output to offset oil production suspended by civil unrest in Libya and to cool down oil markets. “To maintain a market balance, our numbers suggest that OPEC production needs to be in the ballpark of 1 million barrels per day higher than it is now,” Mark Finley, BP’s general manager of global energy markets, told reporters after a presentation of the company’s 60th annual Statistical Review of World Energy at Rice University..............................................Full Article: Source
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