Crude prices slipped further as Opec lowered its demand forecasts amid deepening uncertainty over the future impact of the Covid-19 pandemic.World oil demand will fall by 9.5mn b/d this year to 90.2mn b/d,Opec forecasts,down by 400,000 b/d from its previous prediction,while increasing its projections for non-Opec supply.The first US stockbuild in seven weeks and lower Asia-Pacific demand further weighed on prices.US crude stocks rose by 2mn bl to just over 500mn bl as production and imports bounced back after two major storms hit the Gulf of Mexico.US output rose by 300,000 b/d to 10mn b/d following the shut-ins.
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