OPEC has turned more bearish on the oil market’s recovery from the coronavirus crisis, forecasting a more sluggish global economy and rising production from the US, Canada and Brazil, a month after the bloc and 10 allies eased their record cuts. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now OPEC on Sept. 14 issued its latest oil market forecast, revising down its projection of global demand by 400,000 b/d for 2020 and by 770,000 b/d for 2021. At the same time, non-OPEC supply is expected to increase more than the organization had previously forecast. The global economic growth estimate was lowered to minus 4.1% for 2020 from minus 4%. The outlook puts pressure on members […]