“(Reuters) – World oil demand growth could fall short of forecasts next year, exporter group OPEC said on Thursday, citing a vague and turbulent outlook for the global economy.
The Organization of the Petroleum Exporting Countries (OPEC) said it expected world oil demand to expand by 810,000 barrels per day (bpd) next year, unchanged from its previous forecast, although the odds suggested demand could undershoot.
“The downward risk potential has greater probability in the forecast than the upward risk one,” OPEC said in a monthly report. “Therefore, the gloomy picture could reduce the world oil demand growth forecast by 20 percent next year.”
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