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OPEC MOMR: 2020 global oil demand growth forecast unchanged MM
OPEC MOMR >>>
— Newsquawk (@Newsquawk) June 17, 2020
- 2020 global oil demand growth forecast unchanged MM – projected to decline by 9.07mln BPD in 2020
- World oil demand is seen -6.4mln BPD in H2, vs -11.9mln BPD in H1
- New data and developments may warrant further revisions in the near term#OOTT pic.twitter.com/Zt8Q46xxFS
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OPEC SAYS IN 2020 NON-OPEC OIL SUPPLY IS FORECAST TO DECLINE BY 3.23 MBPD (PREV. ESTIMATE 3.53 MBPD DROP)
— First Squawk (@FirstSquawk) June 17, 2020
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OPEC SAYS OECD COMMERCIAL OIL STOCKS ROSE BY 107.7 MILLION BARRELS IN APRIL TO STAND 140.6 MILLION BARRELS ABOVE LATEST FIVE-YEAR AVERAGE
— RedboxGlobal (@RedboxWire) June 17, 2020
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Opec raises non-Opec supply forecast for 2020
Opec has revised upwards its forecast for non-Opec oil supply this year, leading to a cut in the projected call on its own members' crude. It has left its forecast for global oil demand unchanged. Opec's latest Monthly Oil Market Report (MOMR) expects oil demand to decrease by 9.1mn b/d to 90.6mn b/d, the same as last month's projection. This follows four consecutive months of downward revisions resulting from the impact of the Covid-19 pandemic. Opec estimates global oil demand declined by 6.4mn b/d in the first quarter and will drop by 17.3mn b/d in the second quarter, compared with the corresponding periods in ... (full story)