“The economic slowdown is negatively impacting global demand” for oil. To sound the alarm is the OPEC, that again cuts estimates on global demand for crude oil. This time the reduction is 180 barrels per day, a drop which for the first time in 2011 leads forecasts to drop below one million barrels per day. According to the cartel of the major producing countries, the negative impact on the figure was above all "the deceleration of the US economy, the high unemployment rate and the consequent uncertainty".
For 2012, however, OPEC estimates a growth in demand of 1,19 million barrels, still down by 70 barrels compared to previous estimates. Also cuts on forecasts for non-OPEC oil supplies, which drop to 360 barrels per day, down by 140 barrels. As for the production of OPEC oil, in September it will drop by 77 barrels per day, down to 29,90 million barrels.
