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OPEC Highlights Threats to Oil Demand Before Meeting on Output

  • Group notes trade tension, monetary tightening, EM weakness
  • Ministers to review output at Sept. 23 meeting in Algiers
Workers position drill bits on a drill rig.

Workers position drill bits on a drill rig.

Photographer: Andrey Rudakov/Bloomberg

OPEC highlighted a range of risks brewing in the global economy that could hurt oil demand as ministers prepared for a meeting on production policy, marking a shift from last month’s outlook.

Trade tensions, monetary tightening by central banks and the financial problems of some emerging nations “constitute challenges to the current global economic growth trend,” the organization’s research department said in its monthly report. “It will be essential to monitor the uncertainty in currency and financial markets.”