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OPEC leaves demand forecast unchanged but flags downside risks to summer outlook

OPEC oil output fell by 86k bpd to 28.8 mil bpd in MarchSees world oil demand to rise by 2.32 mil bpd this year (unchanged from prev. forecast)Recent reopening of China still not sufficient to reverse declining trend in global refinery intakesAny economic weakness from rate hikes could weigh on US summer demandDemand outlook for OECD also remains challengingAs you would expect, the report fits the narrative of their decision to surprise with cutting production as they warn that demand conditions... Read More

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Content Topics

Opec

Leaves

Demand

Forecast

Unchanged

Flags

Downside

Risks

Summer

Outlook

Forex

Posted: Apr 13 2023, 11:38

Author Name: forexlive

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