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[rtl]Date of release:: 2018/9/12 18:22 • 67 times read[/rtl]
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(Reuters) - OPEC on Wednesday trimmed its forecast for global oil demand growth in 2019 and said risks in the economic outlook tended to fall, adding a new challenge to the organization's efforts to support the market next year.
World oil demand next year will increase 1.41 million barrels per day (bpd), down 20,000 bpd from last month's forecast for a second consecutive decline, the Organization of the Petroleum Exporting Countries said in a monthly report.
The report provides a new indication that the rapid oil demand that helped Opec and its allies manage supply oversupply will slow in 2019, which means less pressure on other producers to compensate for the loss of supplies from Venezuela and Iran as the renewed US sanctions begin.
"The growing challenges in some emerging and developing economies are tending to the current risks of global economic growth prospects, coupled with the fall in rising trade tensions and the implications of further monetary tightening by the four big central banks as global debt levels grow, all of them are additional concerns," OPEC said in the report.
"The production of its 15 oil members increased in August by 278 thousand barrels per day to 32.56 million barrels per day after the June agreement to ease the agreement to reduce supply."
http://alforatnews.com/modules/news/article.php?storytopic=37&storyid=174331
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OPEC expects slowing oil demand in 2019 warns
[/rtl][rtl]Date of release:: 2018/9/12 18:22 • 67 times read[/rtl]
(Reuters) - OPEC on Wednesday trimmed its forecast for global oil demand growth in 2019 and said risks in the economic outlook tended to fall, adding a new challenge to the organization's efforts to support the market next year.
World oil demand next year will increase 1.41 million barrels per day (bpd), down 20,000 bpd from last month's forecast for a second consecutive decline, the Organization of the Petroleum Exporting Countries said in a monthly report.
The report provides a new indication that the rapid oil demand that helped Opec and its allies manage supply oversupply will slow in 2019, which means less pressure on other producers to compensate for the loss of supplies from Venezuela and Iran as the renewed US sanctions begin.
"The growing challenges in some emerging and developing economies are tending to the current risks of global economic growth prospects, coupled with the fall in rising trade tensions and the implications of further monetary tightening by the four big central banks as global debt levels grow, all of them are additional concerns," OPEC said in the report.
"The production of its 15 oil members increased in August by 278 thousand barrels per day to 32.56 million barrels per day after the June agreement to ease the agreement to reduce supply."
http://alforatnews.com/modules/news/article.php?storytopic=37&storyid=174331
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