OPEC slashes oil demand forecast but sees cuts helping restore balance

LONDON (Reuters) - OPEC on Wednesday again slashed its forecast for global oil demand this year as the coronavirus outbreak causes a global recession, although it said record supply cuts by the group and other producers were already helping rebalance the market.The Organization of the Petroleum Exporting Countries now expects global demand to contract by 9.07 million barrels per day (bpd), or 9.1%, in 2020, it said in a monthly report. Last month, OPEC expected a contraction of 6.85 million..