17.11.2008 16:56

OPEC cuts forecast for 2009 world oil demand growth by 270,000bpd to 490,000 due weak economy.


- OPEC sees average 2009 demand for its oil at 30.92mln bpd, 220,000 less than previously forecast
- OPEC sees risk of long recession, situation needs 'closer monitoring, more frequent intervention'
- OPEC says full effect of Nov1 supply cut will take time to show up in oil market.






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