Inquiring minds want to know.
[you little provocateur, you -ed]
From Platt's The Barrel blog:
OPEC is meeting in Vienna next week, and suddenly, it might have to talk about too much oil on world markets. That wasn't the case a few months ago, and the agenda has shifted.
Here's another way to look at the numbers OPEC faces. The Platts estimate of OPEC output for May is 31.75 million b/d. The International Energy Agency projects that the world's "call" for OPEC oil in the second quarter is 29.6 million b/d. The call is the amount needed to keep inventories steady; it's calculated by estimating world demand, subtracting non-OPEC output and OPEC NGL production....MORE