Oil prices fell on Aug. 12 amid worries about an economic slowdown and the U.S.-China trade war, which have led to a cut in the outlook for global oil demand
Bargain rates are expected to help oil producers.
Oil prices inched higher on Aug. 9 supported by expectations of more OPEC production cuts despite the International Energy Agency (IEA) reporting demand growth at its lowest level since the financial crisis of 2008.
Imports could have averaged as much as 360,000 bbl/d.
During the week ahead, Stratas Advisors expect Brent to continue falling as demand fears grow, likely averaging $60/bbl.