Ministers eye rising supply

摘要

Opec agreed to leave its output ceiling unchanged in Vienna on 17 March, against a backdrop of rising non-Opec supply and uncertainty over the global economy. Global oil demand is projected to increase this year. But "this rise will be more than offset by the expected increase in non-Opec supply, meaning that 2010 is likely to witness a decline in demand for Opec crude for the third consecutive year," the press release issued after the meeting says.