Benchmark Crude Oil WTI is down 1.28% at $84.81 at 4:23am EST today after OPEC cut its demand expectations again this year.
The expectation of softening demand comes as the global economy continues to face uncertainties and challenges – both economic and geopolitical.
However, the organization expects oil demand to increase by 2.24 million barrels per day next year. At the same time, U.S. crude oil production is expected to increase to about 9.19 million barrels per day next year…
