OPEC Warns of Deeper Cuts to Oil Demand Forecast on Slowdown
- Group trims 2016 demand growth estimate by 50,000 barrels/day
- Members in freeze talks pumping 487,000 b/d below Jan. level
The New Normal for Oil and OPEC
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OPEC said it may deepen cuts to its forecast for global oil demand growth due to slowing economic expansion in emerging markets, warmer weather and the removal of fuel subsidies.