OPEC says coronavirus to trim 2020 oil demand, weighs output cut
Share:
LONDON (Reuters) - OPEC on Wednesday cut its forecast for global growth in oil demand this year due to the coronavirus outbreak and said its output fell sharply in January as producers implemented a new supply-limiting pact.In a report, OPEC said 2020 demand for its crude will average 29.30 million barrels per day (bpd), 200,000 bpd less than previously thought. OPEC pumped below that rate in January, suggesting a 2020 supply deficit. The report could bolster the case for even more supply curbs..