OPEC/SUPPLY/DEMAND

OPEC Continues Bearish On Demand

OPEC has made a further downgrade to its projection for 2012 demand growth, according to its latest Monthly Oil Market Report (MOMR). Despite keeping its estimate for global economic growth steady at 3.4% this year in the face of several negative indicators, OPEC shaved oil demand growth by some 80,000 b/d, possibly as a result of current high oil prices. Demand growth this year is projected now to stand at 860,000 b/d, compared to...