OPEC: OIL PRICE $80
OPEC said demand for its crude will slide to 2020, though less steeply than previously expected, as rival supplies continue to grow.
The organization will need to pump 30.7 million barrels a day by the end of the decade, OPEC said Wednesday in its annual World Oil Outlook. That's 1.7 million barrels more than projected a year ago, and 1 million less than the group pumped in November.
The forecast underlines the struggle faced by the Organization of Petroleum Exporting Countries as it seeks to defend market share against a surge in output from rivals such as the U.S. and Russia. While OPEC is slowly taming the…
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