Saturday 16 December 2017

OPEC cuts oil forecast

OPEC cut its world oil demand growth forecast due to economic weakness in Europe and the United States.

The organisation, the source of more than a third of the world's oil, said global demand would rise in 2012 by 940,000 bpd, which is 120,000 bpd less than expected last month.

Daily oil use is expected to average 88.76 million bpd.

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