OPEC comments in its monthly report
- Sees widening excess supply in oil market next year
- Non-OPEC supply set to rise faster than world demand
- 2019 global oil demand growth to slow to 1.29 mil bpd, down 70k bpd from prior f/c
This will only add to the rhetoric that they will be looking to cut production next year. From the cover, this looks like a prelude to the meeting in Vienna next month and basically sends the message that they will be looking towards cutting production heading into 2019.
