OPEC Crude Demand to Slip Driven By U.S. Growth

OPEC forecasts that demand for its crude will decline by 2.6% despite notable growth in global oil demand, citing U.S. production growth as a major projection driver. On July 10, 2013, the Organization of Petroleum Exporting Countries (OPEC) released its 2014 oil market outlook, assessing OPEC’s performance in the global market.  The report projects that…