The OPEC logo is seen at OPEC's headquarters during a meeting of OPEC oil ministers in Vienna, Austria, June 5, 2015. REUTERS/HEINZ-PETER BADER
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Some of OPEC's Gulf members are concerned about the latest drop in oil prices which had not been expected, OPEC delegates said, but they see little chance of the exporting group diverting from its policy of defending market share.Despite this, the delegates including from Gulf OPEC members who declined to be identified say China is still buying and stockpiling crude and they expect strong global demand growth should push prices back to $60 next year.Led by Saudi Arabia, the Gulf members drove OPEC's strategy shift last year to allow prices to fall to discourage growth in competing supply sources.OPEC currently expects an acceleration of growth in world oil demand next year to 1.34 million barrels per day, from 1.28 million bpd this year, as well as an increase in the demand for its own crude as non-OPEC supply expansion slows.
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