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OPEC cuts oil demand estimate in 2019

IANS  |  Vienna 

on Thursday lowered its estimate for the global demand next year due to the slower and US shale output growth.

The monthly report of the Organization of the Petroleum Exporting Countries (OPEC) said in its latest report that the world demand growth is to decline to 1.36 million barrels a day in 2019 from 1.54 million barrels a day this year, reported.

The cartel believed that the slowing and the increase of the world supply, led by the US shale output rise are the reasons of

The rose in the past months due to the US sanctions on

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 12 2018. 02:52 IST
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