OPEC Cuts Global Oil Demand Forecast Amid Middle East Tensions

OPEC announced a cut in global oil demand forecasts.

For the second quarter of the year.

Due to the Middle East conflict.

The group said tensions impacted markets.

Leading to slower consumption expectations.

It also pointed to production changes.

OPEC+ output declined.

In March compared to February.

According to the data, daily output fell.

By about 7.7 million barrels.

Reflecting ongoing market instability.

Amid geopolitical concerns.