Justin had the news on this Thursday:
The Wall Street Journal (gated) posted a piece later:
- OPEC standing by its earlier forecast that demand for crude oil is expected to rise by 2.3 million barrels a day this year
- OPEC’s largest members recently said they would cut output by more than 1 million barrels a day
- This could leave a large shortfall, especially given rising Chinese demand, and points to higher prices
Oil price update:
