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IEA lowers forecast for oil demand growth for next year

World oil demand hit a record 103 mil bpd in JuneAugust could yet see another peak in demand2024 global oil demand growth forecast revised down to 1 mil bpd (previously 1.15 mil bpd)If OPEC+ current targets are maintained, oil inventories could draw by 2.2 mil bpd in Q3 an 1.2 mil bpd in Q4That creates a risk of driving pries higher stillOn the revision lower for oil demand next year, they cite slower macroeconomic conditions and the post-pandemic recovery running out of steam. No doubt that Chi... Read More

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Posted: Aug 11 2023, 08:09

Author Name: forexlive

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