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OPEC Cuts Oil Demand Drastically Due to Coronavirus
February 13th, 2020 - 06:55 GMT

OPEC Cuts Oil Demand Drastically Due to Coronavirus

Opec on Wednesday massively cut forecast for oil demand by 0.23 million barrels per day (mbpd) due to the impact of coronavirus outbreak in China, strengthening its case for higher production cut when it meets again in March. "Oil demand growth in 2020 is revised down by 0.2 3mbpd from the previous month's assessment. With this, global oil demand is now forecast to grow by 0.99 mbpd and average 100.73 ...
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