OPEC president says economic unease set to hit demand

VIENNA (Reuters) - The oil market is already well-supplied and growing economic unease is expected to impact demand, OPEC President Chakib Khelil said in his opening address to Wednesday's OPEC meeting.

"Economic despondency" was hitting oil demand forecasts, he said.

OPEC production was around 32 million barrels per day (bpd), he said, ahead of the meeting that was expected to leave output unchanged.

"As a result, the market continues to be well-supplied with crude oil," Khelil said.

"Commercial oil stocks, crude and products, are in line with the seasonal trend and are expected to remain within their five-year average during the traditionally lower demand season."