OPEC Pumps Most Crude in Three Years as It Lifts Demand Forecast
- Group Sees non-OPEC output dropping by 130,000 barrels in 2016
- OPEC boosts 2016 estimates of crude it will need to supply
Is the Crude and Commodities Relief Rally for Real?
This article is for subscribers only.
OPEC pumped the most crude in three years as it predicted stronger demand for its oil in 2016 while supplies elsewhere falter.
The Organization of Petroleum Exporting Countries said it pumped 31.57 million barrels a day last month, the most since 2012, according to its monthly market report. OPEC sees production outside the group shrinking by 130,000 barrels a day next year as the U.S. shale boom sputters.