Crude oil prices fall nearly 2% after OPEC cuts demand forecast again
- OPEC expects demand to grow by 1.9 million barrels per day in 2024, down from 2 million bpd in its prior forecast.
- The group anticipates a growth of 1.6 million bpd in 2025, reduced from 1.7 million bpd.
- Soft demand in China, the world's largest crude importer, has negatively impacted the market for months.
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