OPEC Saying Supply Was Sufficient

OPEC Saying Supply Was Sufficient2 of the world’s most important oil forecasters gave different outlooks for 2011 on-Friday, with-the customer’s watchdog expecting strong demand and also manufacturer group OPEC (Organization of the Petroleum Exporting Countries) saying supply was sufficient.

The International Energy-Agency, an advisor to twenty-eight industrialised nations, in a monthly statement lifted its next year worldwide oil requirement growth predict by 130,000 bpd (barrels per day) to 1.32 million barrels per day and increased its forecasts to 2015.

However the OPEC , that meets to fixe output policy on Saturday, in their monthly statement left its 2011 requirement growth forecast nearly unchanged.


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