OPEC cuts 2020 oil demand forecast, urges effort to avert new glut2 min read 12 Sep 2019, 01:34 PM IST
Global oil demand to expand by 1.08 million barrels per day, 60,000 bpd less than previous estimate
Stocks in July exceeded the five-year average — a yardstick OPEC watches closely — by 36 million barrels
London: OPEC on Wednesday cut its forecast for growth in world oil demand in 2020 due to an economic slowdown, an outlook the producer group said highlighted the need for ongoing efforts to prevent a new glut of crude.
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