OPEC sees demand falling by 8.95 mbpd this year, increasing by 7 mbpd in 2021 - OPEC monthly oil report

Market news

14 July 2020

OPEC sees demand falling by 8.95 mbpd this year, increasing by 7 mbpd in 2021 - OPEC monthly oil report

Sees 2020 demand dropping 8.95 mbpd compared to a decrease of 9.07 in prior report
Sees U.S. output down 1.37 mbpd this year; up 0.24 mbpd next year
Oil stocks are 210 million barrels above 5-year average
Efficiency gains and remote working to cap demand rise in 2021 to below 2019 levels

U.S.: CPI excluding food and energy, June 1.2% Y/Y (forecast 1.1%)

France's president Macron: There are signs that the coronavirus is returning a bit

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