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IEA cuts 2024 global oil demand growth forecast on softer economic outlook

IEA cuts 2024 global oil demand growth forecast on softer economic outlook
2024 global oil demand growth forecast cut to 880k bpd (previously 1 mil bpd)Cites harsher economic conditions and energy efficiency improvementsRecent oil price pullback reflects demand destruction2023 global oil demand growth forecast bumped up to 2.3 mil bpd (previously 2.2 mil bpd)Cites less worse conditions in China, India, and BrazilIEA also notes that the only thing keeping the oil market in a deficit right now is OPEC+ voluntary cuts. And that if those cuts are unwound, it could lead to... Read More
Posted: Oct 12 2023, 08:07
Author Name: forexlive
Views: 082668

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