Reported about 13 hours ago
OPEC has made its fifth consecutive cut to the 2024 global oil demand growth forecast, reducing it by 210,000 barrels per day to 1.61 million bpd, as China's role as the main demand driver wanes. Additionally, the organization lowered its 2025 forecast from 1.54 million bpd to 1.45 million bpd. The report indicates a challenging outlook for OPEC+, with delayed output increases until April 2025 due to falling prices and diminished demand from major regions, including China and India.
Source: YAHOO