13:26 · 14 September 2020

OPEC lowers its demand forecasts

OIL
Commodities
-
-
In the latest report, OPEC sees a decline in demand this year at 9.5 million barrels per day compared to the previous year. The demand forecast for OPEC crude oil was lowered by 700,000 barrels per day. Interestingly, for the next year the forecast was even lower, namely by 1.1 million barrels per day. August production of OPEC according to primary source increased by 760,000 barrels per day to 24.05 million barrels.
Crude oil does not react positively to this information, although initially, during the publication of the report, the price came close to USD 40 per barrel. A dozen or so minutes later, the price fell closer to today's lows.
Oil fell in response to the OPEC report. Source: xStation5
16 October 2025, 17:05

Breaking: crude oil inventories above expectations 📌

16 October 2025, 15:36

BREAKING: NATGAS declines after EIA data 📌

16 October 2025, 08:18

Cocoa with limited reaction to weaker grinding data from Europe

16 October 2025, 07:27

UK GDP picks up in August as budget tax hike speculation goes into overdrive

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Join over 1.7 Million investors from around the world