OPEC slashes 2020 oil demand view on coronavirus, sees more downside
The Organization of the Petroleum Exporting Countries expects global demand to rise by just 60,000 barrels per day (bpd) in 2020, a reduction of 920,000 bpd from its previous forecast, it said in a monthly report.
OPEC on March 11 slashed its forecast for global growth in oil demand this year due to the coronavirus outbreak and said further cuts may follow, underlining the outbreak's deepening impact on the market days after a pact on output cuts collapsed.
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