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NewsBreak: Crude Oil Prices Rise as OPEC Trims Supply Forecast

Investing.com

Investing.com -- Crude oil prices edged higher on Thursday after the Organization of Petroleum Exporting Countries upheld its forecast for global oil demand next year, while indicating it expects supply from non-OPEC sources to grow slightly less than previously thought. The report also trimmed forecasts for global demand growth this year.

OPEC now sees 2019 global crude demand at 980k barrels a day

OPEC reiterated 2020 global crude demand to grow by average of 1.08 million barrels a day

Non-OPEC supply expected to grow 2.20 million b/d, down from 2.25 million in Sept. report

WTI futures rise to $52.99 a barrel by 8:05 AM ET, up 0.8% on the day, from $52.70 beforehand

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Brent futures rise to $58.72 from $58.39 beforehand

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