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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC lowers demand forecasts for 2012

Posted on 11 October 2012

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


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