OPEC Sees Oil Markets Well Supplied, No Price Collapse in 2013
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Global crude markets will remain well supplied in 2013 to meet growing demand and OPEC doesn’t expect prices to drop this year, OPEC Secretary-General Abdalla El-Badri said.
“At present the market is well-balanced. Looking ahead for 2013 the market is expected to remain well-supplied to meet expected demand growth,” he said during a conference at Chatham House in London today. Resource availability to meet growing demand “is not an issue,” he said.