Less than a minute
106 words
4 views
In its last report before the December meeting, OPEC estimates that demand for its crude oil next year will drop by 1.1 million bpd from 2019, and will be below the cartel’s production for October, suggesting that the OPEC crude supply-demand picture will continue to show oversupply in 2020. OPEC sees demand for its crude oil at 29.6 million bpd for 2020, which is around 1.1 million bpd lower than the expected average demand for 2019, the organization said in its closely watched Monthly Oil Market Report on Thursday. This year’s demand…
Read more https://oilprice.com/Energy/Energy-General/The-Bullish-Surprise-In-OPECs-Latest-Report.html