OPEC expects oversupply in oil market as soon as December

OPEC expects an oversupply of oil as early as December following a period of caution from members and allies despite the rising oil price.

Photo: Dado Ruvic/Reuters/Ritzau Scanpix

The Organization of the Petroleum Exporting Countries (OPEC) doesn't want to see the economy upturn ruined by a shortage of oil.

This was the message today, Tuesday, from Secretary General Mohammad Barkindo during a meeting in Abu Dhabi.

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