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OPEC month-to-month oil market report: Dec. output fell by 751Okay bpd led by cuts in Saudi Arabia, Libya and Iran

Under are a number of the key highlights from the OPEC’s month-to-month oil market report, launched this Thursday.

   •  2019 international oil demand development forecast unchanged at 1.29 million bpd. 
   •  2019 demand for its crude averaging 30.83 million bpd, down 910,000 bpd from 2018.
   •  Trims 2019 non-OPEC oil provide development forecast by 60,000 bpd to 2.10 million bpd.
   •  OPEC Dec. oil output, citing secondary sources, fell by 751,000 bpd m/m to 31.58 million bpd. 
   •  The autumn in output was led by cuts in Saudi Arabia, Libya and Iran.
   •  OECD oil inventories fell by zero.7million barrels m/m in November.
   •  Now stands at 23 million barrels above the newest 5-year common.


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