OPEC production levels below demand forecast

|By:, SA News Editor

OPEC has announced that it has not changed its output target despite a higher demand forecast for the rest of the year.

The production ceiling has been set at 30M barrels a day, although the group predicts crude demand of 30.4M barrels in the next half year. The organization answered that rest of demand will be covered by production growth in countries outside the group.

Production is still facing challenges though, with turmoil enveloping Libyan output, Iran sanctions, and political unrest in Iraq.

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