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Iran expects economic recession to slow OPEC market growth
- Middle East: Wednesday, December 12 - 2012 at 03:53
The Iranian representative to Opec has said the struggling global economy is expected to keep oil demand growth relatively slow, UPI has reported. "Western countries are entering economic recession, the US has not finalised its budget and there are contending views on handling tax issue in the country," Mohammad Ali Khatibi said, referring to a contentious tax policy debate in the US. By his expectations, global oil demand increased from 88.8 million barrels per day for 2012 to 89.6 million bpd next year.
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