Reported 12 days ago
The Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) are at odds regarding global oil demand forecasts for 2024. OPEC anticipates a need for 2 million additional barrels per day, while the IEA estimates only 900,000. The disagreements underscore differing views on China's consumption trends and overall market dynamics, with OPEC's inflated expectations clashing with the historical accuracy of the IEA's predictions. This division raises concerns about the reliability of future oil market forecasts amidst shifting demands.
Source: YAHOO