OPEC has cut its forecast for oil demand growth this year, citing a weaker-than-expected recovery in India and other Asian countries.
OPEC has downwardly revised its outlook for global oil demand to an average of 90.2 million barrels per day in 2020.
A oil tanker goods train passes towards Nizamuddin Railway Station near Ashram in New Delhi on July 30, 2020.has cut its forecast for oil demand growth this year, citing a weaker-than-expected recovery in India and other Asian countries, and warned risks remain "elevated and skewed to the downside" for the first half of next year.
The Middle East-dominated group, which consists of some of the world's largest oil producers, said on Monday it had revised oil demand in OECD countries up by around 100,000 bpd due to less-than-expected declines in all sub-regions during the second quarter.
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