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 Global PMI Data Shows Persistent Price Inflation in May READ MORE LBMA: 2024 Precious Metals Analysts' Forecasts READ MORE Economist Predicts U.S. Recession, Calls for Immediate 'Debt Detox' READ MORE Homeownership Hopelessness: Renters Doubt Future Possibilities READ MORE Fed Holds Rates Steady, Hints at Easing Monetary Policy Soon READ MORE Add a Comment Cancel replyYour email address will not be published.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