Gloom oozes from energy forecasts that show oil demand dropping, heating bills rising

An Austrian soldier guards the entrance of the OPEC headquarters in Vienna on October 4, on the eve of the 45th Meeting of the Joint Ministerial Monitoring Committee and the 33rd OPEC and non-OPEC Ministerial Meeting. OPEC and its allies agreed to reduce their production quotas at that meeting. (Joe Klamar/AFP via Getty Images)

OPEC predicts that oil demand will soften in the next few months, thanks to economic headwinds, while the U.S. Energy Information Administration warns that winter heating bills are likely to rise.

Both closely watched fuel forecasts were released on Wednesday.