In its latest monthly oil market report released June 17, OPEC kept its 2020 forecasts largely unchanged from the May outlook, noting a historic contraction in oil demand but improving fundamentals in the months ahead. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “Following an unprecedented and highly turbulent 1H20 due to the enormous impact of COVID-19 on the global economy and oil market fundamentals, the dust is starting to settle,” OPEC said. According to the analysis, OPEC’s 13 members will be able to pump 27.81 million b/d in the third quarter and 31.21 million b/d in Q4 without creating a supply surplus. The bloc produced 24.20 million b/d in May, the report found, indicating […]