WASHINGTON, Oct 11 (Reuters) - The global financial crisis and worsening economic outlook is likely to sustain a bearish oil market and this poses a risk of oversupply in the first half of 2009, OPEC said on Saturday.
'The overall bearish sentiment in the market is expected to persist, particularly since there seems to be no quick end to the current financial market crisis or the worsening economic outlook,' Mohammad Alipour-Jeddi, head of OPEC's petroleum studies department, said in a statement to the International Monetary Fund's steering committee.
(Reporting by Paul Eckert; Editing by Neil Stempleman Keywords: FINANCIAL/OPEC tf.TFN-Europe_newsdesk@thomson.com ak COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
'The overall bearish sentiment in the market is expected to persist, particularly since there seems to be no quick end to the current financial market crisis or the worsening economic outlook,' Mohammad Alipour-Jeddi, head of OPEC's petroleum studies department, said in a statement to the International Monetary Fund's steering committee.
(Reporting by Paul Eckert; Editing by Neil Stempleman Keywords: FINANCIAL/OPEC tf.TFN-Europe_newsdesk@thomson.com ak COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.