OPEC has trimmed its global demand estimate for 2009 by 20,000 barrels to 85.66 mln bpd, bringing the year's reduction to 180,000 bps, or 0.2%. Reports that consumption of OPEC crude will contract 4.22% to 29.
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Friday, January 16, 2009
Despite large output cuts by OPEC, crude oil dip on forecast of lower demand
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