OPEC cuts 2020 global oil demand growth forecast by 60,000 bpd amid economic slowdown

OPEC cuts 2020 global oil demand growth forecast by 60,000 bpd amid economic slowdown

Strong growth in non-OPEC supply in 2019-2020 highlights need for producers to support market stability to avoid potential oversupply.

August  oil output rose by 136,000 bpd m/m to 29.74 mbpd led by Saudi boost.

Forecasts 2020  demand for its crude averaging 29.40 mbpd,  steady from previous forecast 0f 29.41 mbpd, on lower non-OPEC supply view.

OECD oil inventories fell in July and stood 36 million barrels above latest 5-year average – the level originally targeted by supply cut deal.

11 Sep 19 (Wed)

11:03 am



Never miss a winning trading opportunity.
Join OneBillionSignals now!

Never miss a winning trading opportunity.
Join OneBillionSignals now!

Download OBS Application Download OBS Application Now Sign Up
 

Risk Warning

Important : One Billion Signals will not be liable for any losses sustained while using the services provided on the One Billion Signals application. This application is not a solicitation to trade forex signals, nor is the representation is being made that any account will, or is likely to, achieve profits or losses similar to those discussed on the application. The past performance of any trading system or methodology is not necessarily indicative of future results.

Privacy Policy | Terms of Use

© 2019 One Billion Signals All Rights Reserved