OPEC cuts oil demand forecast again as market reels from ‘historic shock’

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(VOVWORLD) - The Organization of the Petroleum Exporting Countries (OPEC) on Thursday once again cut its forecast for 2020 global oil demand because of the "historic shock" delivered by the novel coronavirus outbreak, saying this reduction may not be the last.
OPEC cuts oil demand forecast again as market reels from ‘historic shock’ - ảnh 1A gas station in Brussels, Belgium, April 8, 2020 (Photo: Xinhua/VNA) 

OPEC now expects global demand to shrink 6.9% – 6.9 million barrels per day – this year. Last month, OPEC was expecting a 60,000-barrel-per-day increase in demand.

The organization expects the largest drop in demand this month - 20 million barrels per day.




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