OPEC’s excellent Monthly Oil Report is out, here…
First, note that demand growth is expected +1.24 mbd, down .05 from last month…
Non-OPEC supply growth:
OPEC is making good on pledges to cut:
Despite the revisions of world GDP growth, OPEC is still looking for +1.24 mbd growth in demand… The call on OPEC oil production is 30.6 for 2019, -1.0 from 2018 which was -1.3 from 2017…
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