Opec lowers oil demand growth forecast and warns of oversupply in 2019 | Financial Times:
Opec has again lowered its forecast for 2019 oil demand growth, in a further sign Saudi Arabia and its partners inside and outside the cartel could be forced to cut supplies to bring the market into balance.
Opec’s research arm said on Tuesday world oil demand growth is forecast to grow by 1.29m barrels a day next year, which is around 70,000 b/d lower than last month’s prediction and the 1.45m b/d it forecast in July.
Worries are mounting about a slowdown in the world economy, trade tensions, emerging market countries’ currency weakness and the fallout on oil demand.
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