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Oil demand forecast lowered and international oil price continued to fall

The three major institutions lowered their oil demand forecasts for this year, worried about the impact of public health events on global oil demand, and the increase in crude oil supply by OPEC and its allies in production reduction, international oil prices continued to fall. On Friday (August 14), the settlement price of West Texas light oil in September 2020 on the New York Mercantile futures exchange was $42.01, down $0.23, or 0.5%, from the previous trading day, with the trading range of 41.62-42.57; the settlement price of October 2020 Brent crude oil on the Intercontinental Exchange of London was $44.80 per barrel, down $0.16 or 0.4% from the previous trading day, with a trading range of 44.47 -$45.29.