London-Average OPEC oil production in May rose by 106,000 b/d from April to 30.57 mil- lion b/d, the group said in its latest monthly report, but it trimmed what it sees as demand for its crude in 2013 by 20,000 b/d to 29.82 million b/d. The revised call on OPEC leaves the group currently pumping some 750,000 b/d more than it believes the market needs this year. However, OPEC sees the call on its crude significantly higher in the second half of 2013 than the first.
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