Posted by: youngragingbull | March 12, 2013

OPEC’s 2013 oil outlook stays pat

World oil demand is set to grow 800,000 barrels a day in 2013, the Organization of the Petroleum Exporting Countries, or OPEC, said Tuesday in its monthly report for March.

That’s unchanged from its previous forecast and is in line with the pace of growth seen in 2012.

A large chunk of growth is expected to come from China, followed by the Middle East, other Asia, and Latin America, OPEC said.

Demand from nations in the Organization for Economic Cooperation and Development — made up of the world’s developed economies — is expected to fall further, but less than in 2012.

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