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.