Economy News _ Baghdad
OPEC expects a global oil market balance in late 2018, as oil supply slows.
The Organization of the Petroleum Exporting Countries (OPEC) cut its estimate of world oil demand in 2018 by 270,000 barrels per day in a monthly report.
OPEC said its oil production fell in November from expected demand to 32.5 million bpd, compared with its October production of 133,000 bpd.
OPEC extended its cut production decision with Russia and other producers to get rid of the global supply that began in 2014, partly because of rising US supplies
OPEC expects oil market balance in late 2018 with supply cut
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