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OPEC's Secretary-General Abdullah al-Badri has again blamed market speculators for the crisis, saying there was no shortages among the 13-nation grouping. OPEC accounts for two in every five barrels of oil exported globally. On Tuesday, crude traded around 133 dollars a barrel, down from last Friday's peak of 139 dollars. The International Energy Agency, which advices 27 industrialised nations, forecasts that demand for oil this year will rise at its slowest pace since 2002. The IEA attributes to slowdown to fuel subsidy cuts in Asia and consumers' tendency to drive less and buy more efficient vehicles.
(Deutsche Welle)
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