OPEC cuts 2020 oil demand forecast, urges effort to avert new glut
OPEC on Wednesday cut its forecast for growth in world oil demand in 2020 due to an economic slowdown, an outlook the producer group said highlighted the need for ongoing efforts to prevent a new glut of crude./ FILE PHOTO: The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits outside its headquarters ahead of the OPEC and NON-OPEC meeting in Vienna, Austria, July 2, 2019. REUTERS/Lisi Niesner/ In a monthly report, the Organization of the Petroleum Exporting Countries said oil demand worldwide would expand by 1.08 ...
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