OPEC Says Oil Goal's Close as Stockpile Glut Shrinks Further
Strong economic growth is seen supporting global oil demand/ OPEC is near its goal of rebalancing the oil market as an inventory overhang targeted by its output curbs continues to shrink, according to the group’s secretary general./ The stockpile glut -- including crude as well as oil products -- has shrunk to 130 million barrels above the five-year average, Mohammad Barkindo said in a Bloomberg Television interview in Beijing before the release of OPEC’s monthly market report on Wednesday. The group last month estimated the overhang at ...
Click
To Read Full Article