The Organization of the Petroleum Exporting Countries (OPEC) on Thursday announced that it lowered 2019 global oil demand growth forecast to 0.98 million barrels per day (bpd), per Reuters. The organization, however, left the 2020 forecast unchanged at 1.08 million bpd. Crude oil’s reaction was relatively muted to these figures and the barrel of West Texas Intermediate was last seen trading at $52.80, up 0.4% on the day. Below are some additional key takeaways. “OPEC’s oil production in September fell 1.32 million bpd to 28.49 mln bpd, according to secondary sources.” “Saudi Arabia told OPEC its September oil production fell by 660,000 bpd to 9.13 million bpd.” “August OECD oil stocks 10 million barrels higher at 2.94 billion barrels, 11 million barrels above the 5-year average.” “OPEC revised 2020 demand for its crude up by 200,000 bpd to 29.6 million bpd, 1.2 million bpd lower than 2019 level.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Forex News Today: Daily Trading News share Read Next Fed’s Kaplan: If trade tensions moderate, downside risks would also decrease FX Street 3 years The Organization of the Petroleum Exporting Countries (OPEC) on Thursday announced that it lowered 2019 global oil demand growth forecast to 0.98 million barrels per day (bpd), per Reuters. The organization, however, left the 2020 forecast unchanged at 1.08 million bpd. Crude oil's reaction was relatively muted to these figures and the barrel of West Texas Intermediate was last seen trading at $52.80, up 0.4% on the day. Below are some additional key takeaways. "OPEC's oil production in September fell 1.32 million bpd to 28.49 mln bpd, according to secondary sources." "Saudi Arabia told OPEC its September oil production fell… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
