OPEC cut its world oil demand growth forecast due to economic weakness in Europe and the US, taking the opposite view to the US government’s energy forecaster and reflecting growing uncertainty over the outlook.
The monthly report from the Organization of the Petroleum Exporting Countries (OPEC) on Thursday also reported higher supply from its members as Libya’s oil industry recovers, with production almost 1 million barrels per day (bpd) above target levels in January………………………………………..Full Article: Source