Jan. Change in Nonfarm Payrolls 257K vs 228K Expected, UE Rate 5.7%

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Go back to Jan. Change in Nonfarm Payrolls 257K vs 228K Expected, UE Rate 5.7%

OPEC Cuts U.S. Oil Output Forecast as Price Rout curbs Drilling (OIL) (USO)

February 9, 2015 6:46 AM EST

(Updated - February 9, 2015 7:02 AM EST)

OPEC cuts U.S. oil output forecast as price rout curbs drilling, according to Bloomberg.

OPEC also said world oil demand is projected to rise by 1.17 mb/d in 2015, slightly higher than in the previous report, mainly to reflect expectations of an uptick in oil requirements in OECD Americas.

UPDATE - More from OPEC's February 2051 oil market report:

Crude Oil Price Movements

The OPEC Reference Basket ended January down $15.08 or 25% to average $44.38/b, reaching its lowest value in six years as excess supply and weak demand continued to... More