OPEC Admits Defeat in Battle of Oil Forecasters
The group’s secretariat has slashed demand estimates by 27%, moving closer to the view of the IEA.
The battle lines between oil forecasters were clearly drawn this year.
Photographer: Bloomberg
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Welcome to our guide to the energy and commodities markets powering the global economy. Today, OPEC reporter Grant Smith looks at the organization’s outlook for oil demand and the gradual retreat of its bullish view.
At the start of this year, the battle lines between oil forecasters were starker than ever. Finally, the winners and losers are becoming clear.