The 177th OPEC and 7th OPEC â OPEC+ meeting concluded Friday with the formal decision to add 0.5 MMb/d to the group's cuts, total adjustments to be 1.7 MMb/d as of 1 Jan '20. Some contributors, notably Saudi Arabia, will continue additional voluntary contributions, leading to pledged total cuts of over 2.1 MMb/d. The next (18th) joint monitoring meeting will be held in early March in Vienna, the OPEC and non-OPEC meeting on 6 March.   OPEC forecasts global economic growth in 2020 at 3%, and oil demand is expected to grow by 1.1 MMb/d.
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