OPEC: Global oil demand growth forecast at 1.14 mb/d for both 2019 and 2020

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Baku, July 12, AZERTAC

Global oil demand growth, despite some uncertainty, is forecast at 1.14 mb/d for both 2019 and 2020, according to the July edition of the OPEC Monthly Oil Market Report which highlights 2020 oil market forecast.

“In 2H19, seasonally strong demand is expected, as is also becoming apparent based on the recent draws in US crude oil stocks.”

“Global economic growth is expected to remain steady at 3.2% in both 2019 and 2020,” OPEC said.

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