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Opec prepared to cut supplies next year to support oil prices
- Middle East: Saturday, December 15 - 2012 at 01:08
Analysts have said Opec is likely to cut its oil production in 2013, as prices risk falling in reaction to higher output from top crude consumer the US and amid a slowing of energy demand growth, AFP has reported. Opec's "overall interest is certainty in demand, and nobody can really tell whether this certainty in demand will be fully there," independent energy market analyst Karin Kneissl said. The organisation decided to maintain its oil output ceiling at 30 million barrels per day, which stands about one mbpd below the group's actual production.
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