OPEC cuts 2020 oil demand forecast, urges effort to avert new glut

LONDON (Reuters) - OPEC on Wednesday cut its forecast for growth in world oil demand in 2020 due to an economic slowdown, an outlook the producer group said highlighted the need for ongoing efforts to prevent a new glut of crude.In a monthly report, the Organization of the Petroleum Exporting Countries cut its forecast for global oil demand growth next year by 60,000 barrels per day (bpd) to 1.08 million bpd and indicated the market would be in surplus.The weaker outlook amid a U.S.-China trade..