The latest from the OPEC monthly report
- Sees demand in 2020 down 9.77 mbpd vs 9.75 mbpd in prior monthly forecast
- Sees 2021 demand up 5.9 mbpd vs 6.25 mbpd prior
- Lower 2021 demand due to uncertainty around covid-19, especially in H1. Also reflects mild weather
- Recent vaccine news is upside risk
Oil has given back much of its gains in the past hour and is now trading higher by just 18-cents to $46.76.
