From Fox Business:

The lowest crude-oil prices in a decade are starting to hurt the global economy and aren’t increasing consumer demand for gasoline and other petroleum products as much as expected, OPEC said Wednesday.

The Organization of the Petroleum Exporting Countries cut its forecasts for global oil-demand growth and the world economy, saying lower oil prices were offset by lower consumer appetite while hurting large countries, such as Russia and Brazil.

The announcement, in OPEC’s closely watched monthly oil report, comes after oil prices resumed their decline after members of the oil-producer group failed to agree on a production cut over the week.

Click here to continue reading. 

Legal Notice