OPEC

OPEC Stays Bearish On Economy

“The outlook for the global economy remains fragile,” states OPEC’s latest Monthly Oil Market Report (MOMR). The report held its estimate on oil demand and the ‘call on OPEC’ broadly unchanged from the previous MOMR, but any further downward revisions on 2012 global economic growth is likely to impact on these. The report edged down its projection on 2012 global economic growth by 0.1% to 3.3%. This compares to 4.1% in last...