Due to the continuous impact of the epidemic on oil demand, the Organization of the Petroleum Exporting Countries (OPEC) lowered its forecast for global oil demand this year on the 14th.

In the September oil market report released by OPEC on the same day, it predicted that the average daily global oil demand in 2020 will fall by 9.46 million barrels from the previous year, which is greater than the 9.06 million barrels expected in August.

The report pointed out that due to factors such as the continued spread of the epidemic, the downside risk of oil demand continues to rise. At the same time, the prospects for economic activity recovery and the growth potential of oil demand are also full of uncertainties.

The report believes that in addition to the epidemic, factors such as high debt, geopolitical risks, the international trade situation and the UK's "Brexit" trend will also bring uncertainty to the world's economic development, which will affect oil demand.

The report mentioned that international oil prices rose in August, with a month-on-month increase of 4%, the best performance since February. However, considering the above uncertain factors, the future international oil prices may rise weakly.

International oil prices fell on the 14th. As of the close, the price of light crude oil futures for October delivery on the New York Mercantile Exchange fell by $0.07 to close at $37.26 per barrel, a decrease of 0.19%; the price of London Brent crude oil futures for delivery in November fell by $0.22 to close At 39.61 US dollars per barrel, a decrease of 0.55%.


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OPEC downgrades this year's global oil demand forecast

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