EIA raises forecast for 2020 world oil demand growth by 50,000 barrels per day

In its monthly report, the United States Energy Information Administration (EIA) revealed that it left the 2019 world oil demand growth expectations unchanged at 0.75 million barrels per day (bpd) but raised the forecast for 2020 by 50,000 (bpd) to 1.42 million bpd, as reported by Reuters.

Crude oil's reaction to this publication was relatively muted. As of writing, the barrel of West Texas Intermediate was up 0.55% on the day at $59.20 and the barrel of Brent was adding 0.4% at $64.30.