OPEC may need to cut output again if there is insufficient demand for its crude, a senior official for the group controlling 40 per cent of global oil supplies said.
The warning came less than a week after the group’s secretariat forecast that demand for OPEC crude would fall next year for the third year in a row.
“I think OPEC’s objective is to satisfy demand in the world market and to meet any real demand,” the Algerian energy minister, Chakib Khelil, told reporters in Milan.
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