Connect with us

archive

OPEC Oil Targets Will Cut Excess Supply in 2014

OPEC Oil Targets Will Cut Excess Supply in 2014 (CNBC)

The Organization of the Petroleum Exporting Countries (OPEC) released its monthly report today, wherein it announced it is trimming its crude oil output towards next year’s global requirements. OPEC is forecasting that global demand will increase in 2014 as the global economy heads towards recovery. While other non-OPEC countries, including the United States, are forecast to increase their shale oil output, the OPEC cutback makes it likely there will be no excess crude oil in 2014 and may lead to rising prices.

Newsletter Signup.

Sign up to the Human Events newsletter

Advertisement
Advertisement

TRENDING NOW:

Kavanaugh 2.0? Trump’s Rape Accuser E. Jean Carroll Should Face Tougher Questions.

CULTURE

Google Anti-Conservative Political Bias Google Anti-Conservative Political Bias

Google Admits It Wants to ‘Prevent The Next Trump Situation’

TECH

Drag Queen Reading Hour Can Be Stopped.

CULTURE

Democrat Presidential Hopeful Cory Booker Shared Pro-Farrakhan Images.

U.S. POLITICS

archive

OPEC Oil Targets Will Cut Excess Supply in 2014

OPEC announced it is trimming its crude oil output towards next yearâ??s global requirements.

OPEC Oil Targets Will Cut Excess Supply in 2014 (CNBC)

The Organization of the Petroleum Exporting Countries (OPEC) released its monthly report today, wherein it announced it is trimming its crude oil output towards next yearâ??s global requirements. OPEC is forecasting that global demand will increase in 2014 as the global economy heads towards recovery. While other non-OPEC countries, including the United States, are forecast to increase their shale oil output, the OPEC cutback makes it likely there will be no excess crude oil in 2014 and may lead to rising prices.

Newsletter Signup.

Sign up to the Human Events newsletter

Written By

TRENDING NOW:

Kavanaugh 2.0? Trump’s Rape Accuser E. Jean Carroll Should Face Tougher Questions.

CULTURE

Google Anti-Conservative Political Bias Google Anti-Conservative Political Bias

Google Admits It Wants to ‘Prevent The Next Trump Situation’

TECH

Drag Queen Reading Hour Can Be Stopped.

CULTURE

Democrat Presidential Hopeful Cory Booker Shared Pro-Farrakhan Images.

U.S. POLITICS

Connect
Newsletter Signup.

Sign up to the Human Events newsletter