Did OPEC Just Issue A Warning For Oil Prices In 2017?

OPEC upgraded on Wednesday its 2016 projections for worldoil demand growthto 1.22 million barrels a day (mb/d), up by 30,000 b/d from its previous estimate, but warned that there were “lingering concerns” that refiners in the U.S. and Europe may cut processing rates, which could decrease the demand for crude.