The US Energy Information Administration lowered on Tuesday its oil demand outlook for 2019 to 1 million barrels per day, according to Reuters. The forecast comes on top of an oil market that already fears a slowing demand for crude. The EIA cut its 2019 oil demand growth forecast by 70,000 bpd. Its 2020 forecast for global demand growth increased, however, by 30,000 bpd to 1.43 million barrels per day. Oil was trading down again on Wednesday as the China/US trade war escalations hint at a slowing economy, which would dent oil demand. WTI was trading…
