Opec cuts oil demand forecast

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.
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 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.
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.
Oil Maintains Its Lows As OPEC Again Downgrades Global Demand Growth
In its latest monthly report published on Tuesday, OPEC said world oil demand would rise by 1.82 million barrels per day (BPD) this year, down from 1.93 million bpd the cartel predicted in October; up until August, OPEC had left its outlook unchanged since July 2023.
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.
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 ...
Crude Oil Prices6h
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.
Oil Prices Steady Ahead of OPEC Report, China Stimulus Limit Gains
Both contracts had fallen by more than 5% over the previous two trading sessions. China on Friday unveiled a 10 trillion yuan ...
Benzinga.com11h
OPEC Cuts 2024 Oil Demand Forecast For Fourth Straight Month Amid China's Economic Slowdown
The Organization of Petroleum Exporting Countries (OPEC) has once again revised its oil demand growth forecasts for 2024, ...
Crude Oil Prices5h
OPEC's Leader is Making Big Moves in Carbon Markets
OPEC's leader, Saudi Arabia, presents a new addition to its economic diversification strategy: a voluntary carbon market.
Marketplace8d
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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Nigeria’s crude oil production rises to 1.43 million bpd in October 2024 — OPEC
Nigeria’s daily crude oil production increased from 1.39 million barrels per day (bpd) to 1.43 million bpd in October 2024.
OPEC in conundrum as supply surplus risk, slowing demand leaves hard choices ahead
OPEC and its allies, or OPEC+, are facing unfavourable backdrop for the plans to boost production as a potential crude ...