Reuters exclusively reported that OPEC will likely maintain an upbeat view on oil demand growth for next year when it publishes its first outlook later this month, predicting a slowdown from this year but still an above-average increase.
Energy
OPEC upbeat over 2024 oil demand outlook despite slowdown
06 July 2023, 5:19 pm 1 minute
Market Impact
OPEC’s forecast for 2024 will likely be lower than the growth it expects for this year of 2.35 million barrels per day, or 2.4%, an abnormally high rate as the world moves out of the coronavirus pandemic. Oil demand growth is an indication of likely oil market strength and forms part of the backdrop for policy decisions by OPEC and its allies, known as OPEC+.
Article Tags
Topics of Interest: Energy
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Middle East
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
