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Home global oil demand
OPEC slashes oil demand outlook for 2020 as coronavirus outbreak stifles China

OPEC slashes oil demand outlook for 2020 as coronavirus outbreak stifles China

Posted By: Editorial Teamon: February 12, 2020In: BUSINESS, ECONOMYNo Comments

OPEC has dramatically lowered its forecast for oil demand growth this year, citing China’s coronavirus outbreak as the “major factor” behind its decision. In a closely-watched monthly report published Wednesday, the Middle East-dominated producer group downwardly revised its outlook for global oil demand growth to 0.99 million barrels per day (bpd) in 2020. That’s down […] Read more

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