OPEC oil demand forecast

Oil prices rise amid new Russia sanctions, OPEC demand cuts, and ExxonMobil’s production boost, reshaping the global market for 2024

OPEC reduces its global oil demand growth forecast for 2024, with weaker demand from China and the adoption of cleaner fuels affecting market outlook.

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.