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Rystad paints bleak picture for oil market

The outlooks for oil demand and price growth are getting "gloomier" as the US-China trade war intensifies and the global economy shows signs of slowing, according to Rystad Energy. "Continued worsening of US-China trade relations could lower demand growth by 200,000 barrels per day to 1 million bpd in 2020," said Rystad's head of oil market analysis, Bjornar Tonhaugen.

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