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.