(Reuters) - The assessment, in OPEC's July Monthly Oil Market Report, underscores OPEC's view that crude supply is enough and oil prices near a record high reflect a strain on refineries and other factors beyond its control.
"The outlook for the oil market in 2008 is shaping up to be quite similar to the current year, with continued tightness in the downstream supporting high product prices and frequent refinery outages exerting further upward pressure, despite the healthy crude oil market," OPEC's report said.
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"The outlook for the oil market in 2008 is shaping up to be quite similar to the current year, with continued tightness in the downstream supporting high product prices and frequent refinery outages exerting further upward pressure, despite the healthy crude oil market," OPEC's report said.
Read more at Reuters.com Business News
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