2020 oil demand to fall by 6.8 mil b/d, more downside likely Call on OPEC crude to average 24.52 mil b/d this year Demand for OPEC crude to fall to 19.73 mil b/d in Q2 OPEC increased Mar output to 28.61 mil b/d, Saudi self-reports 9.73 mil b/d OPEC is banking on global oil demand recovering by more than 10 million b/d from the second quarter to the fourth quarter of 2020 as it embarks on a global supply pact along with allies and rivals to provide relief for a coronavirus-stricken oil market. Receive daily email alerts, subscriber notes & personalize your experience. Register Now OPEC’s analysis arm, like many other agencies, severely cut back its demand forecast for 2020 as the COVID-19 pandemic has spread fast globally, jolting an oil market with a historic shock described as “abrupt” and “extreme.” The producer group now expects global oil […]