OPEC Further Trims Oil-Demand Forecast

OPEC makes fifth and biggest cut to 2024 oil demand growth forecast
OPEC cut its forecasts for oil demand growth this year and next on Wednesday, highlighting weakness in China, India and other regions in the producer group's fifth consecutive downward revision.
OPEC Makes Deepest Cut Yet to 2024 World Oil Demand Forecast
OPEC cut oil demand growth forecasts for this year and next for a fifth straight month, making its deepest reduction to the 2024 outlook so far after agreeing to extend its supply curbs.
Opec cuts 2024 oil demand forecast amid weaker quarterly data
Global oil demand is expected to rise by 1.61 million barrels per day in 2024, a slight downwards revision from last month’s forecast of 1.82 million bpd, according to the latest figures released in Opec’s monthly oil market report on Wednesday.
OPEC Cuts Oil Demand Projections A 5th Straight Month
OPEC has cut oil demand growth forecasts for 2024 and 2025 for a fifth straight month, with the latest cut so far the deepest.
Oil prices trim gains as OPEC again cuts oil demand growth outlook
Oil prices were up about 1% on Wednesday having pared gains after producers group OPEC cut its forecasts for demand growth in 2024 and 2025. OPEC in its monthly reports has
OPEC Further Trims Oil-Demand Forecast After Output-Hike Delay
The Vienna-based cartel cut its forecast for oil-demand growth for the fifth consecutive month after further postponing plans to increase output amid softer prices and market concerns over weaker global consumption.
Oil prices gain as U.S. supplies fall a third straight week
Oil futures climbed Wednesday after the U.S. Energy Information Administration reported a third straight weekly decline in domestic crude inventories. Prices were also s
OPEC cuts forecast of oil-demand growth for 2024, 2025
OPEC on Wednesday lowered its forecast of oil demand growth for this year and next for a fifth straight month. The cut was ...
An OPEC for Solar Power Isn’t Going to Work
Geological advantages are perpetual, but technological advantages can quickly become obsolete. David Fickling is a Bloomberg ...
OPEC Plus Postpones Plan to Increase Oil Output for Three Months
The oil cartel had aimed to start opening the taps in January, but delayed in the face of weak demand and plans by other ...
The US and other crude producers will take more oil market share from OPEC in the coming years, Bank of America says
The US and other oil-producing nations will account for the bulk of crude supply growth in 2025, Bank of America said.
Stock Market News: Dow Falls
U.S. stock futures were mostly lower early Tuesday as investors became more cautious ahead of the final inflation reading of the year.
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OPEC appoints Nigerian as board of governors’ chairperson
The Nigerian government on Tuesday announced the appointment of Ademola Adeyemi-Bero as the new Chairperson of the ...
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OPEC again cuts 2024, 2025 oil demand growth forecasts
OPEC cut its 2025 global oil demand growth estimate to 1.45 million bpd from 1.54 million bpd. Oil pared gains after the ...
OPEC Gives Haitham Al-Ghais Second Term as Secretary-General
OPEC appointed Haitham Al-Ghais for a second three-year term as its secretary-general, extending his tenure until mid-2028.