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New OPEC outlook predicts oil demand slump in 2020

OPEC expects demand for oil from OPEC member coutries to decline in 2020. The prognosis supports the prospect of member states deciding to limit oil supply at next month's meeting in Vienna.

Photo: Lucy Nicholson/Reuters/Ritzau Scanpix

Oil prices fell in aftermarket trading Thursday evening CET – but surged again Friday morning. This is tied to a 2020 demand prognosis from the Organization of Petroleum Exporting Countries (OPEC), Reuters reports.

Thursday, OPEC informed that it expects demand for oil from OPEC member coountries to decline in 2020. The prognosis supports the prospect of member states deciding to limit oil supply at next month's meeting in Vienna.

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