IEA Raises 2024 Oil Demand Projection, Trims Next Year's
KEY TAKEAWAYSThe International Energy Agency (IEA) raised its projection for 2024 oil demand growth but trimmed its forecast for next year, citing China's slowing economy.The IEA said oil demand is forecast to grow by around 920,
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.
Demand Is Holding Back Oil Prices
Weak oil demand, not supply, is driving current low oil prices, with global manufacturing and industrial production downturns being key contributors. Click to read.
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.
Oil Prices Rise Slightly as Markets Worry About Demand
But gains have been small as prices continue under pressure amid faltering global demand. The recent price weakness "was actually linked to perceived hit to oil demand in any trade war between the US and China," Mizuho's Robert Yawger says. The Chinese ...
OPEC Slashes Oil Demand Growth Estimate Again
OPEC lowered its global oil demand growth forecast for 2024 and 2025 for the fourth month in a row, citing weaker demand in China and other Asian markets.
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.
Oil bounces back on short-covering after OPEC's gloomy demand forecast
Oil rebounded on Wednesday on short-covering after prices fell near a two-week low in the prior session on OPEC's demand forecast cut, while the dollar hit a seven-month high, capping crude's gains. Brent crude futures were up 61 cents,
Oil Edges Lower, Likely Weighed by OPEC’s Demand Forecast Trim
Oil prices were mixed in early Asian trade. Market sentiment was likely weighed after OPEC cut its demand forecasts, Westpac said.
Oil prices bounce after back-to-back declines; OPEC sees lower demand growth
Oil futures rose Tuesday, bouncing after back-to-back losses that sent the U.S. benchmark back below the $70-a-barrel threshold.
Oil slips towards 2-week low on gloomy demand outlook
Oil prices slipped on Wednesday, trading near their lowest in two weeks, a day after OPEC lowered global oil demand growth forecasts for 2024 and 2025 and amid demand concerns in China. OPEC cited weakness in China,
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IEA Lifts 2024 Oil Demand Forecast But Trims 2025 Projections
The International Energy Agency lifted its forecast for this year’s oil-demand growth but slightly trimmed next year’s ...
Oil prices edge down, forecasts for higher oil output, weak demand growth weigh
Oil prices dropped slightly early on Thursday on expectations of higher global production amid forecasts for weak demand ...
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World faces oil surplus in 2025 on weak demand, IEA says
Global oil supply will exceed demand in 2025 even if Opec+ cuts remain in place, the International Energy Agency (IEA) said ...
India Eclipses China in Driving Asia Oil Demand Growth, EIA Says
India is now the leading source of oil demand growth in Asia as Chinese consumption falters due to an economic slowdown and ...
Oil demand to fall to 80-100 million bpd by 2035, says BP's US chief economist
Global oil demand will fall to around 80 million to 100 million barrels per day by 2035 in a net-zero environment, BP's chief ...
Oil Pressured by Stronger U.S. Dollar, Demand Worries
Oil edged lower pressured by a gloomy demand outlook and a stronger U.S. dollar which Swissquote Bank said was clearly in overbought market territory.