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US economy not growing as expected, oil demand affected-OPEC

OPEC expects strong demand from China and expects the Chinese economy to grow 8.5 percent next year

September 20, 2011 7:06 by



The United States economy is not growing as much as hoped and European debt woes are a concern, but OPEC expects strong demand from China and expects the Chinese economy to grow 8.5 percent next year, the oil group’s Secretary General Abdullah al-Badri said on Monday.

He said negative economic factors are now starting to affect oil demand in parts of the world, and that western stimulus packages are not really working.

He said about $16-20 of current oil prices are supply risk premium.

OPEC Chinese economic growth of 9 percent in 2011.

(Reporting by Daniel Fineren, Amena Bakr)



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