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OPEC downgrades oil demand growth outlook for 2018 and 2019

October 11, 14:56 UTC+3

The global oil demand outlook of OPEC for 2019 was lowered by 50,000 barrels a day

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MOSCOW, October 11. /TASS/. The Organization of Petroleum Exporting Countries (OPEC) reduced the forecast of global oil demand growth by 80,000 barrels daily to 1.54 mln barrels per day, OPEC said in its report released on Thursday.

The global oil demand outlook of OPEC for 2019 was lowered by 50,000 barrels a day to 1.36 mln barrels daily.

At the same time, the world oil demand outlook was revised downward by 30,000 barrels per day to 98.79 mln barrels daily in 2018 and by 80,000 barrels per day to 100.15 mln barrels daily in 2019.

Brent oil futures with delivery in December 2018 lost 1.95% down to $81.47 per barrel on the London-based ICE after the OPEC report release.

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