Oil Falls After OPEC Slashes Q1 2021 Demand Forecast

Having just recently agreed a new production quota, which along with vaccine hype has spurred oil prices to their highest since March, OPEC just reduced projections for global fuel consumption in the first quarter of 2021 by 1 million barrels a day, it said in a monthly report. Demand will increase by just 500,000 barrels from that quarter -- the same amount the cartel and its partners agreed they’ll add in January. This sent WTI back below $47...   As Bloomberg reports, the 23-nation OPEC+ coalition led by Saudi Arabia and Russia…