OPEC will stop publishing a calculation of the world's demand for its own crude in its monthly oil report, two sources close to the matter said, focusing instead on forecasts for demand for oil from the wider OPEC+ group.
The logo of the Organization of the Petroleoum Exporting Countries is seen outside of OPEC 's headquarters in Vienna, Austria April 9, 2020. REUTERS/Leonhard Foeger/File PhotoLONDON, May 9 - OPEC will stop publishing a calculation of the world's demand for its own crude in its monthly oil report, two sources close to the matter said, focusing instead on forecasts for demand for oil from the wider OPEC + group.
But from this month OPEC will give only the estimate of demand for crude from the Declaration of Cooperation countries, the sources said. The DoC is the formal name for OPEC+, which comprises the 12 OPEC members and 10 non-members of which Russia is the largest producer. OPEC, founded in 1960, has as its main aim "the coordination and unification of the petroleum policies of member-countries," according to its statute. Members appoint officials to a board of governors and other committees.
The pact marked its seventh anniversary in December, with OPEC saying members were showing "unwavering commitment."
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