OPEC Likely to Maintain the Production Cut Amid Anticipated Weak Demand in 2020

OPEC likely to maintain the supply curbs as the global oil market is under a surplus as compared to the demand.

  • The consortium anticipates the global demand to plunge further in 2020, which coupled with higher production from other nations is building a strong case for the group to extend supply curbs.
  • As per the OPEC’s estimation, the global crude oil demand would average 29.58 million barrels a day in 2020, down by 1.12 million barrels a day as compared to the estimated average demand of the present year.
  • The estimation of fall in demand is likely to create a surplus of approx. 70,000 barrels per day in 2020– Says OPEC.

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6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

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