World Oil Outlook: Rising Consumption & Production Restraints Keep Prices Firm

Continued production restraint by members of Organization of Petroleum Exporting Countries (OPEC), rising consumption, and moderate increases in non-OPEC supply are keeping oil prices firm. The global oil balance for the remainder of 2007 has tightened since the last Outlook due to lower projections for world oil production and a larger projected Organization for Economic Cooperation and Development (OECD) stock draw in the second half of the year.
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