OPEC on Wednesday kept its projection for an increase in world crude demand in 2019 of 1.29 million barrels per day, while it reduced its non-OPEC supply growth projection. Photo by jplenio/Pixabay Dec. 12 (UPI) — OPEC on Wednesday kept its global crude oil demand growth forecast for next year at 1.29 million barrels per day, while also reporting that during November greater Saudia Arabia output compensated for lower Iranian production as Venezuela extended its long, steady decline. In line with recent announcements of production cuts, non-OPEC oil supply growth in 2019 was revised down by 0.08 million barrels per day to stand at 2.16 million barrels per day, and is now forecast to reach an average of 62.19 million barrels per day, OPEC said. “This is mainly due to a lower oil supply forecast for Canada given Alberta’s announcement of a mandatory production adjustment, as well as downward […]