OPEC Cuts 2019 Global Oil Demand Growth Forecast  

OPEC revised down on Wednesday its forecast for global oil demand growth this year by 80,000 bpd to 1.02 million bpd, citing weaker demand in the first half and expectations of slower economic growth for the rest of the year.   In its closely watched Monthly Oil Market Report, the cartel also trimmed its forecast for global oil demand growth in 2020 by 60,000 bpd to 1.08 million bpd, chiefly due to changes to the economic outlook for next year. Demand for OPEC crude for 2019 was also cut—by 80,000 bpd to 30.6 million bpd, which would…