OPEC trims its China crude demand forecast
OPEC trims its China crude demand forecast, but nowhere near enough
OPEC cut its estimate for China's crude oil demand growth in 2024 for a third straight month in October, but the producer group is still massively optimistic given the reality of falling imports.
Why OPEC is downgrading its demand forecast for the 3rd time in 3 months
​OPEC is now forecasting that demand for oil will grow more slowly than it had previously expected for the rest of this year and for 2025. It’s the third time in as many months that the Organization of the Petroleum Exporting Countries has downgraded its forecast.
Oil slides 2% as OPEC lowers demand forecast, China stimulus lacks clarity
Oil prices fell 2% on Monday after China’s stimulatory plans failed to impress traders and oil alliance OPEC lowered its demand forecast. West Texas Intermediate ( CL=F) and Brent ( BZ=F) each hovered above $73 per barrel. BZ=F) traded above 73 per barrel.
Oil falls 2% as OPEC cuts oil demand growth view, China concerns
Oil prices fell 2% on Monday as OPEC again lowered its outlook for 2024 and 2025 global oil demand growth while China's oil imports fell for the fifth straight month.
OPEC lowers forecast for global oil demand on China's economic woes
OPEC lowered its 2024 and 2025 forecasts for world oil demand on Monday, largely as a consequence of concerns about China's economic outlook. OPEC now assumes that the global average daily oil demand will rise by around 1.
OPEC lowers oil demand growth forecast for 2024 and 2025; September oil output declines
The Organization of the Petroleum Exporting Countries trimmed its forecast for growth in global oil demand for both 2024 and 2025 on Monday.
OPEC lowers global oil demand growth outlook for third straight month
OPEC now expects demand to grow by 1.93M bbl/day this year and 1.64M bbl/day in 2025, compared to its previous growth outlook of 2.03M bbl/day and 1.74M bbl/day respectively, although demand is still seen at healthy levels overall, well above the historical average of 1.4M bbl/day before the pandemic.
Oil prices tumble as OPEC cuts demand outlook
Oil prices (CL=F, BZ=F) fall after OPEC cut its forecast for global oil demand in 2024. Yahoo Finance's Ines Ferré joins Market Domination Hosts Julie Hyman and Josh Lipton to break down the intraday moves in oil prices and how it ties to investor sentiment about China's ongoing stimulus efforts.
OPEC trims forecast for oil-demand growth in 2024 and 2025
The Organization of the Petroleum Exporting Countries on Monday cut its forecast for growth in oil demand for this year and 2025. In its monthly report, OPEC said it cut its forecast for demand growth in 2024 by 106,
IEA Trims Oil-Demand Forecast for Third Consecutive Month
The International Energy Agency trimmed its forecast for this year’s oil-demand growth for the third month in a row, as a rapid slowdown in Chinese consumption weighs on the global outlook.The Paris-based organization forecasts global demand to grow by 862,
China’s rapid electrification is catching out oil producers
Over-estimating China’s appetite for crude has been a factor in oil markets this year, especially by the Organisation of the Petroleum Exporting Countries (Opec), and it’s a theme that looks likely to ...
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OPEC Revises Global Oil Demand Projections Amidst Economic Challenges
OPEC lowered its global oil demand growth forecast for 2024, citing economic challenges and a shift towards cleaner fuels.
Oil falls over 2% as OPEC cuts oil demand growth view, China concerns
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices declined more than 2% on Monday, wiping out all of last week's gains, as ...
Oil Plunges. Why China Is a Bigger Problem for Prices Than Israel, Iran War.
Crude benchmarks slumped on Tuesday as traders fretted about weak Chinese demand and weighed up a report saying that Israel ...
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Clean Energy Push to Bring Peak in Oil Demand by 2030, IEA Says
The momentum in clean energy sources amid growing electricity demand is "strong enough" to bring a peak in demand for fossil fuels, including oil, by the end of the decade, the International Energy ...