Latest OPEC News

Bernard Looney the CEO of oil and gas company BP walks into 10 Downing Street in London, Friday, Sept. 11, 2020. (AP Photo/Matt Dunham)

OPEC cuts oil demand forecasts, BP sees 'peak oil' in 2020s

Sep. 14, 2020 9:37 AM EDT

LONDON (AP) — Developing countries' difficulty in containing the spread of the coronavirus pandemic will keep a lid on global oil demand, particularly in India, the OPEC cartel said Monday as it cut its forecasts. OPEC cut its estimates for world demand by 400,000 barrels a day for both this year and next....