OPEC lowers oil demand growth forecast for 2024 and 2025
OPEC trims its China crude demand forecast, but nowhere near enough
OPEC cut its estimate for China's crude oil demand growth in 2024 for a third straight month in October, but the producer group is still massively optimistic given the reality of falling imports.
OPEC lowers oil demand growth forecast for 2024 and 2025; September oil output declines
The Organization of the Petroleum Exporting Countries trimmed its forecast for growth in global oil demand for both 2024 and 2025 on Monday.
OPEC lowers global oil demand growth outlook for third straight month
OPEC now expects demand to grow by 1.93M bbl/day this year and 1.64M bbl/day in 2025, compared to its previous growth outlook of 2.03M bbl/day and 1.74M bbl/day respectively, although demand is still seen at healthy levels overall, well above the historical average of 1.4M bbl/day before the pandemic.
Oil falls 2% as OPEC cuts oil demand growth view, China concerns
Oil prices fell 2% on Monday as OPEC again lowered its outlook for 2024 and 2025 global oil demand growth while China's oil imports fell for the fifth straight month.
OPEC Cuts Global Oil Demand Growth Forecasts for Third Consecutive Month
OPEC trimmed its forecasts for oil demand growth this year and next for a third consecutive month as the group belatedly recognizes a slowdown in global fuel use.
Crude Oil dips with China and OPEC dampening hopes for quick recovery
Crude Oil starts the week on the backfoot, sinking further below $75.00. The US Dollar Index orbits around 103.00 and is looking for a catalyst to move higher.
OPEC revises down oil demand growth again on Chinese uncertainties
In the wake of continuing economic uncertainty in China, the Organization of the Petroleum Exporting Countries (OPEC) has reduced its forecast for 2024’s global oil demand growth, while also lowering its projection for 2025.
OPEC lowers forecast for global oil demand on China's economic woes
OPEC lowered its 2024 and 2025 forecasts for world oil demand on Monday, largely as a consequence of concerns about China's economic outlook. OPEC now assumes that the global average daily oil demand will rise by around 1.
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