VIENNA, Austria (Bloomberg) -- OPEC trimmed estimates for the amount of crude it will need to pump this year amid rising U.S. supplies, and predicted that a “supply buffer” will accumulate before demand peaks in the summer. The Organization of Petroleum Exporting Countries, responsible for 40% of the world’s oil supply, will need to provide an average of 29.6 MMbpd of crude this year, according to its monthly market report.
OPEC sees lower demand as U.S. output rises
![OPEC sees lower demand as U.S. output rises]()
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