OPEC cuts its global oil demand growth forecast for 2011 by another 150,000 barrels/day, and...

|By:, SA News Editor

OPEC cuts its global oil demand growth forecast for 2011 by another 150,000 barrels/day, and warns that weaker-than-expected consumption could cut the outlook further. But crude oil, now +0.5% to $81.68/barrel, and oil stocks (XOI +2.6%) rebound from yesterday's selloff. Among major producers and refiners: VLO +8%, ESV +7%, MRO +6.5%.