Mubasher: Oil futures went down at Thursday’s settlement, as OPEC lowered expectations regarding global demand. 

August Nymex WTI declined by $0.23, or 0.4%, to close at $60.2 per barrel.

The Organization of the Petroleum Exporting Countries (OPEC) projected that world demand for its crude would fall next year, indicating a return to oversupply, despite a pact to trim supplies.