OPEC sees weaker oil market next year

OPEC on Monday said the
fundamentals of the world oil market show signs of weakening in
2007 as economic growth slows and supply from non-OPEC countries
rises faster than global demand.

In a monthly report, the group that pumps more than a third
of the world’s oil held its forecast for global demand growth at
1.3 million barrels per day and said a weakening U.S. economy
posed risks to the outlook.
Reuters