The Organization of the Petroleum
Exporting Countries in a monthly report forecast 2013 demand for its crude will
average 29.84 million barrels per day (bpd), up 90,000 bpd from the previous
estimate. The 12-member group's own production rose by 280,000 bpd in April to
30.46 million bpd, according to secondary sources cited by the report, led by
higher output in Saudi Arabia and Iraq. OPEC left its forecast for growth in
world demand in 2013 unchanged at 800,000 bpd and warned of downside risks to
the forecast.
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