Headline Alert
Global Economic Update: OPEC Raises 2010 Demand Forecast
OPEC has increased its 2010 demand forecast by 70K barrels per day to 85.13 million barrels per day
The revision is due primarily to an increase in the expectations for China. OPEC forecasts that the Chinese GDP will grow by 8.5% in 2010.
On the Production side, in November, OPEC (ex-Iraq) increased production to 26.6 million bpd from 26.568M in October.
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