UAE says demand for OPEC oil may drop in '10

03 March 2010

The UAE's oil minister said he believes demand for OPEC crude may drop by 100,000 barrels a day this year due to high stockpiles and the weak global economy, Bloomberg has reported. Demand for crude produced by the Organization of Petroleum Exporting Countries could drop this year after last year falling by 2.3 million barrels a day to 28.7 million barrels a day, the news service cited Mohamed Al-Hamli as saying.

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