OPEC Projects Tough 2013


World oil demand growth slowing next year and strong non-OPEC supply growth mean demand for OPEC crude will actually retract by some 300,000 b/d, predicts the July edition of OPEC’s Monthly Oil Market Report (MOMR), the first to provide projections for 2013. Rafiq Latta reports.


A poor OECD economic performance is beginning to weigh on non-OECD economies, the driver behind oil demand growth...