BATTERED INDUSTRY. An oil refinery. Photo from Shutterstock
PARIS, France – The Organization of the Petroleum Exporting Countries said on Thursday, April 16, that the world market for crude is undergoing an unprecedented jolt due to"The oil market is currently undergoing a historic shock that is abrupt, extreme, and at global scale," said the group of producer nations in its latest monthly report.
The cartel now forecasts a"historical drop" of around 6.8 million barrels per day in average daily demand for 2020.Those forecasts are less severe than those released on Wednesday, April 15, by the, a Paris-based organization that advises major energy-consuming nations.OPEC and its allies
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