Reuters exclusively reported that OPEC has raised its medium- and long-term oil demand outlook in a forthcoming report, three OPEC sources said, despite the transition toward renewable energy, highlighting the oil exporting group’s more bullish view compared to other forecasters.
Energy
OPEC raises oil demand view in long-term outlook
06 October 2023, 11:31 am 1 minute
Market Impact
Higher oil demand would be a boost for producers and the 13-nation OPEC and would underscore the need for continued investment. It also highlights OPEC’s more bullish view on the oil demand outlook compared to the International Energy Agency (IEA) and other forecasters. “Demand is still going up,” one of the sources, who all declined to be named said, describing the upward revisions as not large. Oil use had shown resilience in the last 18 months during periods of high prices, the source added.
Article Tags
Topics of Interest: Energy
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Europe
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
