×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: ML | OPEC | Oil | Demand

OPEC: Uneven U.S. Recovery May Push Demand Lower

Wednesday, 10 February 2010 11:02 AM EST

OPEC is raising questions about how fast the U.S. economy will be able to bounce back, but is sticking to its forecast for worldwide oil demand for now.

The Organization of the Petroleum Exporting Countries said in its monthly report Wednesday that "uncertainty about the pace of the U.S. economic recovery" has the potential to push oil demand estimates lower for the world's largest oil consumer.

It says the U.S. economic rebound depends on the level of continued government support, and whether that in turn lowers unemployment.

OPEC says there is also "some uncertainty" about increased demand in China, the world's No. 2 consumer.

The 12-member group left its global forecast for oil demand growth unchanged at 800,000 barrels per day.

© Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Markets
OPEC is raising questions about how fast the U.S. economy will be able to bounce back, but is sticking to its forecast for worldwide oil demand for now.The Organization of the Petroleum Exporting Countries said in its monthly report Wednesday that uncertainty about the...
ML,OPEC,Oil,Demand
121
2010-02-10
Wednesday, 10 February 2010 11:02 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved