Opec cuts oil demand outlook
OPEC downwardly revised its outlook for global oil demand growth to 0.99 million barrels per day (bpd) in 2020. That's down by 0.23 million bpd from the previous month's estimate. OPEC cuts oil demand outlook, building case to keep supply curbs. LONDON (Reuters) - OPEC has cut its forecast for growth in global oil demand due to trade disputes and pointed to the risk of a further reduction, building a case for prolonged supply restraint in the rest of 2019. In its monthly report, OPEC said that world oil demand is now expected to rise by 990,000 barrels per day (bpd) this year - roughly 19 percent less than previously forecast. More: Despite the supply cut, oil has tumbled to $62 a barrel from April's 2019 peak above $75, pressured by concern over the U.S.-China trade dispute and an economic slowdown, though prices jumped 4% on Thursday after suspected attacks on two oil tankers in the Gulf of Oman. OPEC increased its 2020 world oil demand growth forecast by 140,000 barrels to 1.22 million barrels a day, raised global economic growth forecast to 3.1% The logo of the of the Organization of the OPEC, in the report, lowered its forecast for world economic growth in 2020 to 3.1% from 3.2% and said next year’s increase in oil demand would be outpaced by “strong growth” in supply from
Feb 7, 2020 OPEC's crude production plunged by 470000 b/d in January, according to on oil cuts but coronavirus fears complicate outlook: Platts survey.
Feb 11, 2020 EIA's global petroleum supply forecast assumes that the Organization of the Petroleum Exporting Countries (OPEC) will reduce crude production Feb 13, 2020 IEA's forecast for non-OPEC supply growth in 2020 is steady at 2 Chinese crude throughputs for the first quarter of 2020 have been cut by 1.1 Feb 13, 2020 OPEC on Wednesday cut its forecast for global growth in oil demand this year due to the coronavirus outbreak and said its output fell sharply in. Feb 12, 2020 In its February Short-Term Energy Outlook (STEO), the EIA expected OPEC to cut crude oil output by 0.5 million barrels per day from March Mar 6, 2020 The IEA slashed its forecast for global oil demand this year, and said that in OPEC had planned to make more cuts now and to extend the big Mar 11, 2020 The reduced demand forecast has three main drivers: lower OPEC and partner countries did not agree to further production cuts beyond those EIA expects OPEC crude oil production will average 29.1 million b/d in the Oct 11, 2019 In a closely-watched monthly report, OPEC cut its forecast for global oil demand growth for the remainder of this year to 0.98 million barrels per
Sep 11, 2019 OPEC in its monthly report on Wednesday announced that it cut its forecast for 2020 global oil demand growth by 60000 barrels per day to 1.08
Mar 11, 2020 The Organization of the Petroleum Exporting Countries on Wednesday slashed its forecast for 2020 growth in oil demand by 920000 barrels a Feb 12, 2020 The Organization of the Petroleum Exporting Countries in its monthly report, said Wednesday that it expects growth in world demand for crude Feb 12, 2020 The Organization of the Petroleum Exporting Countries on Wednesday slashed its forecast for oil demand growth in 2020, citing the Feb 12, 2020 OPEC on Wednesday cut its forecast for global growth in oil demand this year due to the coronavirus outbreak and said its output fell sharply in Feb 25, 2020 The outlook for crude looks worrisome and not constructive, with expectations that the market will return to surplus over H12020. Global oil Feb 11, 2020 EIA's global petroleum supply forecast assumes that the Organization of the Petroleum Exporting Countries (OPEC) will reduce crude production Feb 13, 2020 IEA's forecast for non-OPEC supply growth in 2020 is steady at 2 Chinese crude throughputs for the first quarter of 2020 have been cut by 1.1
In its monthly report, OPEC said that world oil demand is now expected to rise by 990,000 barrels per day (bpd) this year – roughly 19 percent less than previously forecast. More: Saudis fear costly oil price collapse if output cuts delayed; OPEC+ meeting to debate coronavirus response extends to day three
OPEC, in the report, lowered its forecast for world economic growth in 2020 to 3.1% from 3.2% and said next year’s increase in oil demand would be outpaced by “strong growth” in supply from OPEC has also cut its oil demand outlook due to the outbreak impact. Yahoo Finance's On the Move panel discusses the implications. Concern surrounding the coronavirus is escalating as the death At present, recession or not, the cartel's compliance with OPEC/non-OPEC cuts has on occasion run at 163% going by S&P Global Platts data, and June headline production has come in as low as 29.60 million bpd (down 170,000 bpd from May), according to the latest Reuters survey. The World Oil Outlook combines the expertise of the OPEC Secretariat, professionals in OPEC Member Countries and the Organization’s Economic Commission Board, as well as input from various other sources. The OPEC Secretariat welcomes any feedback. View below the latest edition. The Organization of the Petroleum Exporting Countries on Wednesday slashed its forecast for oil demand growth in 2020, citing the coronavirus ou OPEC downwardly revised its outlook for global oil demand growth to 0.99 million barrels per day (bpd) in 2020. That's down by 0.23 million bpd from the previous month's estimate.
OPEC cuts oil demand outlook for the year, citing the coronavirus outbreak in China as a 'major factor' Carmen Reinicke Feb 12, 2020, 21:26 IST.
Oct 10, 2019 OPEC reduced its 2019 oil-demand-growth forecast on Thursday by 40000 barrels a day to 980000. OPEC has now cut demand expectations
Mar 11, 2020 The reduced demand forecast has three main drivers: lower OPEC and partner countries did not agree to further production cuts beyond those EIA expects OPEC crude oil production will average 29.1 million b/d in the Oct 11, 2019 In a closely-watched monthly report, OPEC cut its forecast for global oil demand growth for the remainder of this year to 0.98 million barrels per Feb 13, 2020 Oil's slump has spurred the Organization of Petroleum Exporting Countries' ( Opec's) biggest exporter, Saudi Arabia, to press fellow members and During the early part of the second quarter, the fear of an oil supply shortfall faded rates were reduced to very low levels, which led US authorities to cut Sources: IMF, International Financial Statistics; IMF, World Economic Outlook; IMF, Feb 7, 2020 OPEC's crude production plunged by 470000 b/d in January, according to on oil cuts but coronavirus fears complicate outlook: Platts survey. Sep 11, 2019 OPEC in its monthly report on Wednesday announced that it cut its forecast for 2020 global oil demand growth by 60000 barrels per day to 1.08 Oct 10, 2019 OPEC reduced its 2019 oil-demand-growth forecast on Thursday by 40000 barrels a day to 980000. OPEC has now cut demand expectations