US EditionOPEC again cuts 2024, 2025 oil demand growth forecasts
- OPEC has reduced its oil demand forecast for 2024 and 2025, marking its fifth consecutive monthly cut and the deepest reduction yet.
- The global oil demand growth for 2024 is now projected at 1.61 million barrels per day, down 210,000 bpd from last month.
- For 2025, OPEC estimates growth at 1.45 million bpd, which is a decrease of 90,000 bpd from the previous month's assessment.
79 Articles
79 Articles
(December 11, 2024. El Veneziano).- Venezuela produced an average of 960,000 barrels per day (bpd) of crude oil in November, a decrease of 2.9% compared to October, when pumping averaged 989,000 bpd, according to official figures collected in a report published this Wednesday by the Organization of Petroleum Exporting Countries (OPEC). Thus, the country's production with the largest proven reserves of crude oil was reduced 29.
OPEC Slashes 2024 Oil Demand Growth Forecast by 210,000 Barrels
The Organization of the Petroleum Exporting Countries (OPEC) has significantly lowered its oil demand growth forecast for 2024. This marks the fifth consecutive month of downward revisions, reflecting a cautious stance in the face of global economic challenges. OPEC now anticipates a demand growth of 1.61 million barrels per day for the current year. This […]
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. OPEC has cut 2024 demand growth by 210,000 barrels a day to 1.6 million barrels a day, 27% below its first estimate made in July, Bloomberg reported. The OPEC secretariat said the revision takes “into account recently received bearish data” for the third quarter,” including “downward revisions to OECD Americas and OECD …
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