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Iran Says Crude Demand May Fall in Second Quarter, Times Reports

Global demand for crude oil may decline in the second quarter of 2012 and OPEC members need to be vigilant, Tehran Times reported, citing Mohammad Ali Khatibi, Iran’s governor to the group.

The oil market is currently “balanced,” Khatibi said, according to the report published in the daily today.

The Organization of Petroleum Exporting Countries is scheduled to meet in Vienna on Dec. 14 to review output and set targets for 2012.

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