Mubasher: OPEC has expressed a positive sentiment for the oil market next year, in its monthly report, issued on Tuesday.
The Organization of the Petroleum Exporting Countries (OPEC) has lowered the forecasts for the global economic growth in 2016, due to the uncertainty about the results of the Brexit referendum.
Turning to the oil market, oil demand growth for 2017 is expected to surpass OPEC’s current production levels, according to the organization’s latest report.
OPEC’s report also indicated the increases in crude oil prices in different markets in June.
