OPEC Lowers 2020 Oil Demand Predictions
The Organization of the Petroleum Exporting Countries (OPEC) has further lowered its forecast on oil demand due to the coronavirus pandemic and there are also doubts about 2021's recovery.
The Organization of the Petroleum Exporting Countries (OPEC) has further lowered its forecast on oil demand due to the coronavirus pandemic and there are also doubts about 2021's recovery.
The Organization of the Petroleum Exporting Countries’ (OPEC) annual statistical report found that total world oil production declined in 2019 by 0.7%, or 0.56 million barrels per day (mmbbl/d), compared to 2018.
The OPEC members produced around 30.55 million barrels per day (b/d) in February, down by 221,000 b/d from a month earlier.
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