OPEC lowers 2016 oil demand estimate, but production still growing
In its Monthly Oil Market Report for March, released Monday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's price for its reference basket rose by 8.4% ($2.22 per barrel), the first price increase in three months. OPEC coyly noted the positive sentiment in the oil markets "arising from the efforts of major producers to trim output" along with falling U.S. production and "healthy physical oil markets," according to Yahoo! Finance.
UNIAN Web subscription
Get a complete information picture of the day by subscribing to UNIAN’s news feeds.
For more information, please call: