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WTID - OPEC's Revised Supply/Demand Outlook For 2020
UBS AG London Branch ZC SP ETRACS REDEEM 04/01/2047 USD 25 - Leveraged Inverse
OPEC released its Monthly Oil Market Report (MOMR) for February. It reported that demand for OPEC crude was 30.6 million barrels per day, 1.0 million lower than the 2018 level. It forecasts demand for OPEC crude will be 29.3 million in 2020, about 1.3 million lower than the 2019 level.
It also reported that global OECD commercial oil inventories rose by 6.8 billion in December to end at 2.918 billion, 45 million higher than a year ago and 30 million higher than the latest 5-year average. The Energy Information Administration estimated that OECD stocks rose