IMF Says OPEC Production Too Low

OPEC will be unable to exceed oil demand to create spare capacity in the next 5 years due to a lack of investment in production and refining, the IMF will warn this week, according to the Financial Times.

In a draft section of the International Monetary Fund’s World Economic Outlook published in the newspaper’s Monday edition, the IMF said high demand in China and the United States would limit the cartel’s ability to lower prices.
Reuters UK