OPEC says recent market slump ‘overblown’, with oil demand still robust
November 13, 2023 Comments Off
Oil market fundamentals are still strong, with healthy demand ahead, OPEC said in its latest outlook Nov. 13, blaming the recent slump in crude prices on speculators and their “exaggerated negative sentiments.” OPEC pointed to sturdy economic growth in the US and China, and slightly revised up its demand growth forecast for 2023 by 20,000 b/d to 2.46 million b/d….
OPEC says recent market slump ‘overblown’, with oil demand still robust
Oil market fundamentals are still strong, with healthy demand ahead, OPEC said in its latest outlook Nov. 13, blaming the recent slump in crude prices on speculators and their “exaggerated negative sentiments.” OPEC pointed to sturdy economic growth in the US and China, and slightly revised up its demand growth forecast for 2023 by 20,000 b/d to 2.46 million b/d….
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