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)