Jakarta (Platts)--11Dec2007
The world's oil market is expected to be oversupplied by 1.2 million-2
million b/d by March and OPEC would evaluate the situation carefully before
making any decision at its February meeting, an official said Tuesday.
"Usually, global oil market in the first quarter is oversupplied. I think
the world will be oversupplied as well by between 1.2 million b/d and 2
million b/d in March 2008," Indonesia's OPEC governor, Maizar Rahman, said.
Asked whether there was a possibility that OPEC might cut production at
the February meeting, Maizar said: "We don't know yet. We have to evaluate the
updated world's oil supply and demand before making a decision."
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