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Free AccessOPEC Oil Demand Forecasts Expected to Slow 2024: Reuters Sources
OPEC's forecast for 2024 will likely be lower than the growth it expects this year of 2.35 million barrels per day, or 2.4% according to Reuters sources close to the group.
- For 2024, three OPEC sources said that while demand growth was likely to show a slowdown it would not be as severe as the IEA predicts and growth will likely be above 1 million bpd and likely below 2 million bpd.
- OPEC is expected to publish its first demand forecast for 2024 in its monthly report on July 13.
- OPEC originally forecast demand growth in 2023 of 2.7 million bpd in its first forecast published in July 2022, later revising it down to 2.35 million bpd.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.