An oil pumpjack is seen in La Canada de Urdaneta, Venezuela October 1, 2019. — Reuters pic
The Organization of the Petroleum Exporting Countries now expects global demand to contract by 6.9 million barrels per day, or 6.9 per cent, in 2020, it said in a monthly report. Last month, Opec expected a small increase in demand of 60,000 bpd. “Downward risks remain significant, suggesting the possibility of further adjustments, especially in the second quarter,” Opec said of the demand forecast.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Opec cuts oil demand forecast again as market faces 'historic shock'Fuel producer cartel expects global demand to contract by 6.9 million barrels per day, or 6.9%. FMTNews Opec Oil
Source: fmtoday - 🏆 5. / 72 Read more »
Opec cuts oil demand forecast again as market faces 'historic shock'Fuel producer cartel expects global demand to contract by 6.9 million barrels per day, or 6.9%. FMTNews Opec Oil
Source: fmtoday - 🏆 5. / 72 Read more »
Oil market falls too big to offset with output cuts | Malay MailLONDON, April 15 —The International Energy Agency (IEA) on Wednesday forecast a 29 million barrel per day (bpd) dive in April oil demand to levels not seen in 25 years and warned no output cut by producers could fully offset the near-term falls facing the market. Benchmark Brent crude...
Source: malaymail - 🏆 1. / 86 Read more »