OPEC in its new report said that the global demand for crude oil in the current year is expected to increase by an average of 5.8 million barrels per day as against the initial forecast of a growth of 5.96 million barrels per day as suggested by OPEC experts.
According to NAN, this disclosure is contained in OPEC’s monthly report which was published on Wednesday in Vienna.
OPEC in the new report, came up with the assumption that 99.82 million barrels of crude oil per day will be needed globally in the fourth quarter.
OPEC experts in their analysis of the likely reason for the possible lower growth forecast, pointed to lower consumption data than expected in the first 9 months of the year.
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