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OPEC Monthly Report: The Global Economic Growth Forecast Reduced to -4.1% in 2020

Adel 14 September, 2020 4:16 pm Market Update

OPEC Monthly Report:

Reducing global economic growth forecasts to -4.1% in 2020

The economic growth forecast for 2021 was left unchanged at 4.7%

Reducing Forecast for global oil demand growth by 0.4 million barrels per day in 2020

Raising Forecast of growth in non-OPEC supplies by 360 thousand barrels per day in 2020

Raising Forecast of growth in non-OPEC supplies by 371 thousand barrels per day in 2020

Reducing Forecast of demand growth for OPEC oil by 0.7 million barrels per day in 2020

Reducing Forecast of demand growth for OPEC oil by 1.1 million barrels per day in 2021

Crude oil prices edged slightly higher in the last minutes. As of writing, the barrel of West Texas Intermediate (WTI) was trading at $37.33, gaining 0.1% on the day.

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