OPEC Acting to Balance Oil Market, Iran OPEC Governor Says

- June 1st, 2011

Bloomberg reports that OPEC plans to act to balance global oil markets and will make up for any shortage.

Bloomberg reports that OPEC plans to act to balance global oil markets and will make up for any shortage.

The market news is quoted as saying:

Global oil demand will rise to 88.9 million barrels a day by the end of the year, Khatibi said, according to Fars. Demand for OPEC’s crude will rise to 29.8 million barrels a day in the same period, from 29.7 million in the first quarter, he said.

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