OPEC Slashes Oil Demand Growth Outlook for 2024 and 2025 OPEC has revised its global oil demand growth forecast downward for both 2024 and 2025, citing recent data and economic challenges, particularly in China. The organization now expects demand to increase by 2.03 million barrels per day in 2024, down from its previous estimate of 2.11 million bpd. This adjustment reflects concerns about China’s economic growth, the real estate sector, and the increasing adoption of cleaner energy alternatives. The downward revision underscores the challenges OPEC+ faces in balancing the oil market and comes amid recent price declines, with Brent crude trading near its lowest levels since March 2023. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Asian Dollar Loans Hit 14-Year Low as Companies Seek Cheaper Alternatives READ MORE Consumer Prices Cool: Inflation Hits 2.9% in Latest Report READ MORE Gold Wavers as U.S. Economic Slowdown Spurs Rate Cut Speculation READ MORE China's Bond Market Flashing Warning Signs READ MORE Crude Oil Rally Continues: Third Weekly Gain as Middle East Tensions Escalate READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment