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OPEC+ Retains Positive Oil Demand Outlook

OIL

OPEC+ retains a positive outlook on global oil demand growth with consumption expected to grow by more than 2mbpd in 2024, OPEC Secretary-General Haitham Al-Ghais said.

  • “The economy, despite the challenges, is still doing quite well,” Al-Ghais said. “We are positive on demand, we’re still quite robust on demand.”
  • Regarding the next OPEC+ ministerial meeting on 26 November he said: “All I can say for now is we continue to monitor supply and demand fundamentals on a daily basis. When the ministers meeting in Vienna at the end of this month they will review all of this and take appropriate measures.”
  • “I think the US economy is doing very well. Europe may be struggling a bit,” Al-Ghais said. “We’re still talking about the Chinese economy growing by over 4.5% to 5%,” he added.
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