| The U.K.’s vote to leave the European Union could dampen Europe’s appetite for oil and pose a risk to global economic growth, according to OPEC. The Organization of Petroleum Exporting Countries’ assessment of oil demand growth in 2017 remained unchanged at 1.2 million barrels a day.
But the Vienna-based group downgraded its forecast of global economic growth in 2017 to 3%, down from 3.1%, and said growth in the eurozone would slow to 1.2% in 2017, down from 1.5% in 2016. Since economic growth and demand for crude are tied together, OPEC fears a spillover effect into oil...............................................Full Article: Source
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