LONDON (Reuters) -OPEC lowered its forecasts for 2024 and 2025 international oil demand progress on Wednesday within the fifth consecutive lower to the producers group’s month-to-month report.
The weaker outlook highlights the problem dealing with OPEC+, which includes the Group of the Petroleum Exporting International locations and allies comparable to Russia.
OPEC+ earlier this month delayed its plan to start out elevating output till April 2025 in opposition to a backdrop of falling costs.
OPEC stated it now expects 2024 international oil demand to rise by 1.61 million barrels per day (bpd), down from its forecast of 1.82 million bpd final month.
OPEC had saved the 2024 outlook unchanged till August, a view it had first taken in July 2023.
OPEC lower its 2025 international oil demand progress estimate to 1.45 million bpd from 1.54 million bpd.
People are feeling more and more downbeat in regards to the financial outlook. Some Wall…
President Trump backed away from his threats to take away Federal Reserve Chair Jerome Powell.…
(Bloomberg) -- Federal worker pension advantages are set to be pared again in Republicans’ big…
Eric Thayer/Bloomberg by way of Getty Photos The U.S. GDP is anticipated to have grown…
By Francesco Canepa, Jan Strupczewski and Leika Kihara WASHINGTON (Reuters) -International policymakers gathering in Washington…
The bosses of 4 of Britain’s greatest banks are secretly urging the chancellor to ditch…