OPEC
http://www.opec.org/home/The Organization of Petroleum Exporting Countries (OPEC), an international oil cartel, is composed of 12 member countries: Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. The goal of the cartel is to help stabilize oil prices in international markets and allow oil producers to achieve a reasonable rate of return.
IEA Cuts Global Oil Demand Outlook for Sixth Consecutive Month
Amid continued signs of a weak global economy throughout 2012, the International Energy Agency Friday lowered its global demand forecast for the sixth consecutive month.
The IEA now sees demand around 800,000 barrels per day, down from a prior estimate of 1.05 million barrels per day. The move follows a cut by the Organization of the Petroleum ...
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