OPEC Trims Demand Forecast for 4th Straight Month

OPEC again cuts 2024, 2025 oil demand growth forecasts
OPEC cut its forecast for global oil demand growth in 2024 and lowered its projection for next year on Tuesday, highlighting China, India and other regions, marking the producer group's fourth consecutive downward revision.
OPEC Cuts Global Oil Demand Growth Forecasts For a Fourth Consecutive Month
OPEC cut its oil demand growth forecasts for this year and next for a fourth consecutive month as it belatedly recognized a slowdown in top consumer China.
OPEC Trims Demand Forecast for Fourth Straight Month
The Organization of the Petroleum Exporting Countries cut its forecast for oil-demand growth for the fourth consecutive month after further delaying its planned output hike amid market concerns over weaker global consumption and lower prices.
Oil prices hold near 2-week low after OPEC cuts demand view, dollar rises
Oil prices held near a two-week low on Tuesday after dropping about 5% over the past two sessions as investors absorbed OPEC's latest downward revision for demand growth, a stronger U.S. dollar and disappointment over China's latest stimulus plan.
Brent Oil Prices Steady Despite OPEC Demand Forecast Cut, Where To Next?
Technical analysis suggests that oil prices are eyeing a bounce but could face resistance around $74.00 and $76.35. Click to read.
OPEC further cuts global oil demand forecast for 2024, 2025
OPEC already lowered its forecasts for global oil demand growth in 2024 and 2025 in its monthly market reports for three months in a row since August. OPEC had maintained its global oil demand growth forecasts of 2.25 million bpd this year and 1.85 million bpd next year by August.
Oil Edges Higher; Demand Forecasts in Focus
Oil prices were up in early Asian trade. Concerns such as China’s weak demand for oil have weighed on prices recently.
Opec cuts oil demand forecast again for 2024 and 2025
Opec has revised down its forecast for oil demand growth this year based on data from China, India and other regions, while also lowering its estimate for 2025, marking the producer group’s fourth consecutive downwards adjustment.
OPEC says Russian oil output broadly stable in October
Russia's crude oil output edged up in October by 9,000 barrels per day (bpd) to about 9.01 million bpd, the Organization of ...
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Oil could plunge to $40 in 2025 if OPEC unwinds voluntary production cuts, analysts say
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OPEC Plus crude output hits 40.34mln bpd last month
The report touched on economic growth expected in a number of countries, including China, where the figure remains unchanged ...
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OPEC Oil Production Jumps by 470,000 Bpd as Libyan Output Returns
OPEC's oil production increased in October due to Libya's return to full capacity, offsetting declines from other members.
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OPEC postpones plans to increase production — again
Yet again, OPEC has postponed plans to increase oil production until at least the end of the year. That drove oil futures ...
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Oil prices steady ahead of OPEC report, China stimulus limit gains
(Reuters) - Oil prices were little changed on Tuesday, awaiting further price direction from OPEC's monthly report, while ...
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OPEC Slashes Oil Demand Growth Estimate Again
OPEC lowered its global oil demand growth forecast for 2024 and 2025 due to weaker demand revisions in China and other Asian markets. This marks the fourth consecutive month of downward revisions by ...