Opec forecasts fall in crude demand on global imbalance | Financial Times:
Opec expects demand for the cartel’s crude in 2019 at almost 1m barrels a day less than last year as supply is expected to outweigh demand, something that has forced global producers to enact output curbs.
In its monthly oil market report, Opec said production from outside of the cartel is forecast to grow by a robust 2.1m b/d this year — a small downward revision — to average almost 64.2m b/d.
US production at record levels combined with concerns about global oil demand growth, amid anxiety about the fallout of the US-China trade spat, has helped to send oil lower in recent weeks.
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