Opec sees lower 2019 demand for its oil, points to surplus returning

World News: . []

Opec on Wednesday forecast world demand for its crude will decline next year as growth in consumption slows and rivals pump more, pointing to a market surplus returning despite an Opec-led pact to restrain supplies. Giving its first 2019 forecasts in a monthly report, the Organization of the Petroleum Exporting Countries said the world will need 32.18-million barrels per day (bpd) of crude from its 15 members next year, down 760 000 bpd from this year.

Read More: http://www.engineeringnews.co.za/article/opec-sees-lower-2019-demand-for-its-oil-points-to-surplus-returning-2018-07-11

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