Oil prices rise amid new Russia sanctions, OPEC demand cuts, and ExxonMobil’s production boost, reshaping the global market for 2024
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OPEC oil demand forecast
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OPEC reduces its global oil demand growth forecast for 2024, with weaker demand from China and the adoption of cleaner fuels affecting market outlook.
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OPEC has reduced its 2024 global oil demand growth forecast due to weaker-than-expected demand from China, complicating decisions for the OPEC+ group on whether to increase production later this year.