Crude oil dropped after data suggested inventories at the U.S. crude delivery hub rose in the latest week.
OPEC forecast lower demand for its crude next year as rivals pump more and said top oil exporter Saudi Arabia, eager to avoid a return of oversupply, had cut production.
In a monthly report, the OPEC said the world will need 32.05 Mbpd of crude from its 15 members in 2019, down 130,000 bpd from last month's forecast.
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