Opec oil demand growth forecast

12 Feb 2020 Crude prices have headed higher on Tuesday, but the gains could prove to be short-lived. OPEC has revised its growth forecast for 2020, and Global oil demand has been hit hard by the novel coronavirus (Covid-19) and the We have cut our 2020 growth forecast by 365 kb/d to 825 kb/d, the lowest supply from OPEC was offset by a 2.1 mb/d increase in non-OPEC production. 11 Mar 2020 OPEC expects there will effectively be no growth in global oil demand this year, slashing its forecasts as the coronavirus hits the world The Reference Case thereby points to demand for OPEC oil, having fallen in 2009 in the face of the global economic contraction, rising slowly over the medium- 17 Jun 2019 Both the International Energy Agency (IEA) and OPEC have cut their estimates for 2019 world oil demand growth in their latest monthly reports. 18 Aug 2019 In its monthly report, the Organisation of Petroleum Exporting Countries (OPEC) revised its oil market outlook for 2019. It cut its forecast by

6 Mar 2020 OPEC further slashed its 2020 oil demand growth forecast on Thursday due to the coronavirus outbreak and agreed to new output cuts to offset

In the report, OPEC said world oil demand will rise by 990,000 bpd this year, down 230,000 bpd from the previous forecast. In its monthly report on the world's oil market, OPEC said it now expects growth in global oil demand of 0.99 million barrels per day (mbd) this year, down from the 1.22 mbd forecast last month. The OPEC oil cartel on Wednesday lowered its forecast for growth in global oil demand this year by nearly a fifth due to the impact of the coronavirus outbreak in China. In its monthly report on the world's oil market, OPEC said it now expects growth in global oil demand of 0.99 million barrels per day (mbd) this year, down from the 1.22 mbd forecast last month.

12 Feb 2020 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

11 Oct 2019 OPEC trimmed its forecast for oil demand growth for the third month in a row on Thursday, citing weaker-than-expected data in the Asia Pacific

12 Feb 2020 The cartel reduced projections for demand growth in the first quarter by 440000 barrels a day, or about a third, in its monthly report. 11 Mar 2020 EIA forecasts OPEC crude oil production will average 29.2 million Lower global oil demand growth for 2020 in the March STEO reflects a 12 Feb 2020 The Organization of the Petroleum Exporting Countries on Wednesday slashed its forecast for oil demand growth in 2020, citing the

5 Nov 2019 The Organization of Petroleum Exporting Countries announced in their annual World Oil Outlook that it has lowered its long-term forecasts for

OPEC has downwardly revised its forecast for global oil demand growth over both the medium-term and long-term, citing tough market conditions and "signs of stress" in the world economy. As a 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 In its closely scrutinized monthly oil market report, OPEC increased its 2020 world oil demand growth forecast by 140,000 barrels to 1.22 million barrels a day, while also nudging its global