OPEC

OPEC, in its latest oil market commentary, has edged up its world oil demand forecasts for both 2013 and 2014, citing positive developments in the OECD economies of both Europe and North America. Still, the producer group does not expect this to translate into increased demand for its crude; as non-OPEC supplies – driven by the so-called ‘Shale revolution’ in the US – increase at a faster rate than previously predicted.

In the January edition of its Monthly Oil...