OPEC Sees Well-Supplied Crude Market, Declining Market Share

摘要

Despite a plunge in Libyan crude production, OPEC said the global oil market is “well-supplied,” and forecast a further drop in its oil market share in 2014 as supply from the United States and other countries outside the group increases. In a monthly market update, OPEC said it will need to provide 29.6 million barrels per day (b/d), on average, next year – trimming its estimate “slightly” from last month, according to a September 12 Bloomberg report.