(OPEC) is a cartel of twelve developing countries made ..
It is clear that strong demand growth in 2017, alongside a modest increase last year in non-OPEC output, and the cuts made by leading producers, has contributed to the extraordinarily rapid fall in OECD oil stocks. A year ago, they were 264 mb above the five-year average and now they are only 52 mb in excess of it, with stocks of oil products actually below the benchmark. Although the OECD is not the whole world, the leading oil producers who agreed to cut output identified the level of the group’s stocks as an indicator of the progress of their initiative. With the surplus having shrunk so dramatically, the success of the output agreement might be close to hand. This, however, is not necessarily the case: oil price rises have come to a halt and gone into reverse, and, according to our supply/demand balance, so might the decline in oil stocks, at least in the early part of this year.
Chapter 1 - Key assumptions - OPEC

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"The Secretariat carries out the executive functions of the Organization in accordance with the provisions of the OPEC Statute and under the direction of the Board of Governors. It provides the Conference with support facilities; carries out research into energy, economics and finance; prepares reports and statistics; provides information on the Organization and its activities through various publications; receives visitors from different parts of the world; and organizes seminars, briefings and lectures. The Secretariat is equipped with an excellent library, and serves officials from Member Countries (MCs) as well as researchers, scholars and students from MCs and elsewhere.
Dec 05, 2013 · The Future Of Opec
In Developing countries, the picture is rather different. The massive increase in the car fleet would, all other things being equal, increase sectoral demand by 26.4 mb/d over the forecast period. Increasing efficiency, changing driving behaviour and the penetration of alternative fuel vehicles, particularly EVs in China and India, will only partially curb demand growth.

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