Commodities
OPEC Sticks to Oil Demand Growth Forecast Amid Saudi Production Slump
OPEC continues to predict oil demand growth this year despite global consumption being impacted by the Iran war. The organization has flagged a slump in Saudi Arabia's crude oil production, citing threats to its major export routes.
The monthly Bloomberg survey reports that core OPEC members' crude oil output decreased in August. This decrease is attributed to Saudi Arabia's difficulties with both of its main export routes.