OPEC cuts 2020 global oil demand growth forecast by 920K bpd

The latest from OPEC

In other times that would be a shocking drop but now it sounds behind the curve. Obviously demand is going to fall much more in a global pandemic.
  • Saudi Arabia pumped 9.68 mbpd in Feb
  • Cuts non-OEPC supply estimate by 490K bpd to 1.76 mbpd
WTI crude oil is down $1.18 to $33.17 today and is just off session lows. There’s been no reaction to this news.