The OPEC, in its latest report, forecast that demand for its oil would decline in 2015. As it maintained the oil demand outlook for both this year and 2015, the drop in the call for OPEC would be mainly driven by the expansion in US shale production. Yet, the cartel has shown no signs of cutting production.
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Brent Crude Breached US$80/bbl as OPEC Lowered Demand Estimate for Its Oil
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