Opec crude production gained for a second month in January as the group boosted its forecast for global oil-demand growth this year.
"Demand in 2014 is projected to see some improvement," Opec said.
"Economic conditions in the US and
Brent crude futures have slipped 1.6 per cent this year, trading at about
Saudi Arabia, Opec's largest producer, pumped 9.63 million barrels a day last month, down from 9.74 million in December, according to Opec. The country said in direct communication with the group that it produced 9.77 million barrels in January versus 9.82 million a day the previous month.
World oil consumption this year is forecast to increase by 1.09 million barrels a day, or 1.2 per cent, to 90.98 million, Opec said.
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