The hottest global economy is weak, and there are
2022-10-14- Detail
The global economy is weak, and there is a downside risk for oil demand next year.
the organization of Petroleum Exporting Countries (OPEC) said on Tuesday that its oil production fell close to the output target level in November, mainly due to Saudi Arabia's production reduction. OPEC also warned that affected by the economic downturn, the growth of world oil demand in the first half of 2013 may not be as expected. This also means that Pingmei Shenma Group will invest 249 million yuan to subscribe for some shares. The organization of Petroleum Exporting Countries (OPEC) said on Tuesday that its oil production fell close to the output target level in November mainly due to Saudi Arabia's production reduction. OPEC also warned that affected by the economic downturn, the growth of world oil demand in the first half of 2013 may not be as expected
OPEC's daily oil production in November will decline by 210000 barrels to 30.78 million barrels after any mechanical system is stressed. Saudi Arabia, the largest oil exporter, told OPEC that its production was reduced by 230000 barrels to 9.49 million barrels on November. The OPEC report was released the day before the Vienna meeting on Wednesday. The market generally expects that OPEC will maintain the daily output target of 30million barrels at the meeting on Wednesday. According to the report, the global oil demand growth in 2013 is expected to remain unchanged at 770000 barrels per day, but it is expected that the oil demand will decrease to 29.25 million barrels in the first half of 2013
OPEC said: the global economic weakness is causing great uncertainty to the world oil demand forecast, and there are downside risks to the demand forecast, especially in the first half of 2013. However, OPEC still predicts that the world economic growth will accelerate to 3.2% in 2013 from 3.0% this year. OPEC said in the report: Although the uncertainty affects market supply and demand until it is qualified, it is expected that the improvement of the economic outlook will bring support to the oil market
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