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Opec sees no need to boost output
- Saturday, May 31 - 2008 at 10:20
Opec's head of research said there is no need for the organisation to boost output this year, reported Reuters. Hasan Qabazard said stocks were building as oil production was outstripping demand by 800,000 bpd to one million bpd in the second quarter. Now that Saudi Arabia has boosted supply, stocks should build even more, he added.
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Jeff Florian, Senior ReporterSaturday, May 31 - 2008 at 10:20 UAE local time (GMT+4)
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