Crude oil futures were rangebound during mid-morning trade in Asia Sept. 15 after OPEC lowered its oil demand forecast in a monthly report. At 11 am Singapore time (0300 GMT), ICE Brent November crude futures were down 6 cents/b (0.15%) from the Sept. 14 settle at $39.55/b, while the NYMEX October light sweet crude contract was 4 cents/b (0.11%) lower at $37.22/b. “Oil prices bounced off overnight lows and are finding tentative support from broader markets and appear to be in some semblance of consolidation mode after traders were served up another dish of angst when OPEC revised their demand outlook downwards,” Stephen Innes, chief global markets strategist at AxiCorp, said in a Sept. 15 note. OPEC in its latest oil market forecast Sept. 14 revised down its projection for global demand by […]