OPEC cut its global oil demand forecasts for the next four years on Thursday as Chinese growth slows, even as it lifted its longer-term view due to rising oil needs in the developing world and said there was no evidence demand had reached its peak.

The Organization of the Petroleum Exporting Countries doubled down on its view that global oil demand will keep rising through mid-century and that there is no peak in sight.

VIENNA – Opec has cut its global oil demand forecasts for the next four years as Chinese growth slows , even as it lifted its longer-term view, based on rising consumption in the developing world, and said there was no sign oil use has reached its peak.