OPEC OIL RISING
OPEC supply is expected to increase by 0.2-0.3 million barrels per day (bpd) between now and end-3Q2015, analysts of the US JP Morgan bank said in a report, obtained by Trend.
OPEC supply growth has slowed from end- 1Q2015 level of 1.4 million bpd year-over-year, analysts said.
At the same time they expect non-OPEC supply to contract by 0.5 million bpd between now and end-3Q2015.
Analysts mentioned that Brent futures prices last week stayed in a $64-$68 per barrel range.
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