“I do not see a tight market now,” Opec secretary-gen- eral Abdullah al-Badri says. “When there was a shortage, we increased our production. From the figures that I see, the market is well-supplied everywhere in the world.” Opec output rose to its highest in nearly three years in November thanks to higher supply from Libya and the Mideast Gulf (see table). Libyan crude has returned to the market since Opec last met in June, but demand growth has slackened. Opec is concerned about demand prospects in 2012, al-Badri says.
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