The move is likely to add to growing pressure on the producer group to impose a deeper round of supply cuts at its December meeting.
In a closely-watched monthly report, OPEC cut its forecast for global oil demand growth for the remainder of this year to 0.98 million barrels per day .The report comes as the U.S.-China trade war continues to cloud prospects for the global economy and fuel demand.
The OPEC logo is seen at the Organization of the Petroleum Exporting Countries building in Vienna on June 20, 2018.trimmed its forecast for oil demand growth for the third month in a row on Thursday, citing weaker-than-expected data in the Asia Pacific region as well as advanced economies in the Americas.
The move is likely to add to growing pressure on the Middle East-dominated group to impose a deeper round of production cuts at its December meeting. In a closely-watched monthly report, OPEC cut its forecast for global oil demand growth for the remainder of this year to 0.98 million barrels per day . That's down 40,000 b/d from its September estimate.
The group, which consists of some of the world's most powerful oil-producing nations, kept its forecast for 2020 in line with
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