The Organization of the Petroleum Exporting Countries (OPEC) is putting forth bearish signals on the world's economy. The 12-member organization lowered its forecast for growth in global oil demand this year and warned of a continued slowdown in 2013.

World Oil Demand

OPEC sees growth in world oil demand falling to 800,000 BOPD for 2012, 100,000 barrels a day lower than its previous projection. This leaves world crude oil demand averaging approximately 88.81 MMBOPD for the full year 2012. Although this is a downward revision, production expec...


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