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OPEC cuts 2016 oil demand growth forecasts

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    OPEC, via its latest monthly report, revised its 2016 global oil demand growth forecasts by 50K barrels per day to 1.2 million barrel per day (bpd).

    Key points

    2016 oil market surplus will increase to 790k bpd from 760k implied last month

    Further downward revisions to oil demand growth could follow should existing signs persist

    Non-OPEC supply will fall by 730k bpd in 2016 vs 700k prev forecast
    For more information, read our latest forex news.
     

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