Monday, December 17, 2018
News

OPEC cuts oil demand estimate in 2019

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Vienna | Friday, 2018 3:15:04 AM IST
OPEC on Thursday lowered its estimate for the global oil demand next year due to the slower economic growth 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 oil demand growth is to decline to 1.36 million barrels a day in 2019 from 1.54 million barrels a day this year, Xinhua reported.

The cartel believed that the slowing economic growth and the increase of the world oil supply, led by the US shale output rise are the reasons of oil demand decrease.

The oil price rose in the past months due to the US sanctions on Iran.

--IANS ahm/

( 125 Words)

2018-10-12-02:54:06 (IANS)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
UAE reshuffles central bank's board...
Global cues to dictate equity indices, r...
Petrol prices remain unchanged on Sunday...
Satin Creditcare raises US$ 30 mn NCD fr...
India's solar installations slowed down ...
YouTube influencers rarely disclose mark...
More...
 
INDIA WORLD ASIA
CM-designates Kamal Nath, Gehlot, Baghel...
Want a separate residence to focus on my...
Other parties will have to mull over Rah...
AAP, Congress in talks for alliance in D...
Cyclone 'Phethai' likely to make landfal...
Naidu to attend swearing-in of Rajasthan...
More...    
 
 Top Stories
UAE reshuffles central bank's board... 
Qatar commits USD 500 million to UN... 
Blast injures 42 people in Japan's ... 
Saina Nehwal, Parupalli Kashyap hos... 
Trump backs child separation policy... 
Turkey slams EU leaders for ignorin... 
Brussels: Police use tear gas to di... 
Iran's private sector to begin cons...