OPEC again cuts 2024, 2025 oil demand growth forecasts
- OPEC has cut its oil demand growth forecasts for 2024 and 2025 due to revised expectations, indicating a slower recovery in global oil demand.
- OPEC's latest forecast reflects uncertainties in the market that impact oil demand predictions.
- Economic conditions and other factors are being closely monitored by OPEC, which is observing developments affecting the oil market.
79 Articles
79 Articles
OPEC makes fifth and biggest cut to 2024 oil demand growth forecast.
(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.
Nigeria’s Crude Production Rises To 1.5mbpd In November
December 11, (THEWILL) - Nigeria’s average daily crude oil production excluding Condensate, increased month-on-month (MoM) to 1.5 million barrels per day (bpd) in November 2024, the Organisation of Petroleum Exporting Countries (OPEC) said on Wednesday. OPEC in its December oil market report released on Wednesday, said that the November output figure represents a 15.3 percent
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 […]
The Vienna-based cartel now expects demand to grow by 1.61 million barrels a day this year
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