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The cartel raised its demand forecast by 190,000 b/d from its March estimate. The report follows OPEC’s March decision to boost their collective output by two million barrels a day, a change that will take place over the coming months. OPEC, which was founded in 1960, consists of thirteen countries, most of which are located in the Middle East, although the organization is headquartered in Vienna. Last year also saw the start of an “oil war” between OPEC member Saudi Arabia and Russia.  According to SP Global, the report stated that global oil demand is expected to “reclaim 96% of 2019 demand.”

Saudi arabiaUnited statesBaton rougeOrganization of petroleumWall street journalPetroleum exporting countriesMiddle eastSan francisco bayOil pricesStimulus checksUs economyசவுதி அரேபியாஒன்றுபட்டது மாநிலங்களில்தடியடி ரூஜ்ஆர்கநைஸேஶந் ஆஃப் பெட்ரோலியம்சுவர் தெரு இதழ்