A report published by OPEC Wednesday painted a gloomy picture of the world’s economy, as the group of oil producers lowered its forecast for global oil demand growth this year and warned of a continued slowdown in 2013.
In its monthly oil market report, the Organization of Petroleum Exporting Countries said it saw oil demand growth falling to 800,000 barrels a day this year, 100,000 barrels a day lower than its previous projections. Overall world oil demand is pegged at 88.81 million barrels a day this year………………………………………..Full Article: Source