OPEC won't boost supply

OPEC Secretary General Abdalla el-Badri sees no need for additional oil supply for the rest of this year from members of the Organization of Petroleum Exporting Countries. "I think maybe in June we will review the market (to see) if we need more oil or not but I don't think we need it,” he said during an energy meeting in Saudi Arabia. Meaning: The cartel is comfortable with world crude oil prices averaging almost $64/barrel this month and $56 for the year to date.

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