OPEC: Leaves forecast demand for its crude in 2014 and 2015 unchanged; keeps 2014, 2015 global oil demand growth forecast unchanged
- OPEC crude output 30.47M bpd, +402K bpd
- Saudi Arabia raised crude production to 9.704M bpd v 9.597M m/m
- Attributes decline in prices since June to weak demand and ample supply
- Expects winter demand to support market in the coming months.
**Note: The next OPEC meeting is scheduled for Nov 27th.