Oil Falls Fifth Day in Six as OPEC Cuts Demand Outlook
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West Texas Intermediate crude slid for a fifth time in six days after OPEC cut forecasts for the amount of oil it needs to supply and the dollar strengthened.
OPEC lowered every published forecast for its crude demand through 2035 except next year. Oil also dropped as Libya said it will resume pumping crude “soon” at its biggest field. The euro weakened against the dollar as European Central Bank President Mario Draghi deepened his commitment to stimulus.