Posted By : | Date :07-17-2016
In its monthly market report published earlier, Organization of the Petroleum Exporting Countries (OPEC) said that demand for crude from its own 14 members was expected to rise to average 33.0 million barrels per day in 2017, representing a gain of 1.1 million barrels per day over the current year. "The contraction seen this year in non-OPEC supply is expected to continue in 2017 but at a slower pace," OPEC said. "Market conditions will help remove overall excess oil stocks in 2017." Output from OPEC’s 14 nations increased by 264,100…
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