The Organization of the Petroleum Exporting Countries left its estimate on global oil demand growth for this year unchanged. World oil demand is expected to rise by 1.25 million barrels a day in 2016 to average 94.23 million barrels a day, according to OPEC's monthly oil report issued Monday. OPEC also left its non-OPEC oil supply forecast for this year unchanged from its previous report, predicting a fall of 0.7 million barrels a day to an average of 56.39 million barrels a day. OPEC crude output, meanwhile, edged down by 175,000 barrels a day to average 32.28 million barrels a day in February, though output increased from Iran, Saudi Arabia and Kuwait, OPEC said, citing secondary sources. April oil continued to trade lower, down $1.60, or 4.2%, at $36.90 a barrel on the New York Mercantile Exchange.
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