OPEC again trims oil demand outlook

09/19/2011
Weaker economic recovery is negatively impacting oil demand, the Organization of Petroleum Exporting Countries said in its latest Monthly Oil Market Report as it reduced its forecasts for 2011 and 2012. The organization cited a weaker-than-expected driving season in the US and ongoing economic sluggishness in the developed countries of the Organization for Economic Cooperation and Development (OECD) as reasons for the latest downward revision to its oil market forecast, which reduces the call on OPEC crude in the second half of this year. World oil demand growth in 2011 has been revised down by 150,000 b/d from last month's report as the global economy is now expected to grow at a revised...
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