RBA SAYS NOTHING RULED "IN OR OUT"

MNI: RBA HOLDS CASH RATE AT 4.35%

MNI BRIEF: China Seen Growing 5% In 2024 - Former Official

MNI: PBOC Net Drains CNY215.65 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1318; +0.58% Y/Y

CHINA PBOC CONDUCTS CNY0.62 BILLION VIA 7-DAY REVERSE REPOS TUE

Next Step A RRR Cut?

Room To Pause For The BI

MNI BRIEF: Japan June Real Wages Turn Positive; 1st in 27 Mths

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OPEC Revises Long Term Oil Demand Forecasts Higher

OIL

OPEC has raised its long-term oil demand forecasts in its 2023 World Oil Outlook October 9 report according to Reuters sources.

  • The upward revisions have not been described as ‘not large’ but underpin OPEC’s view that long term investment is required in the fossil fuels industry.
  • The 2022 version of OPEC's report sees oil demand reaching a plateau after 2035.
  • OPEC has pushed back on calls by the likes of the IEA that demand will peak earlier claiming it will harm investment in the industry.
  • OPEC Secretary General Haitham al-Ghais accused the IEA of ideologically driven fear-mongering that would destabilize the world economy last month.
  • "Such narratives only set the global energy system up to fail spectacularly," Ghais said in a Sept. 14 statement. "It would lead to energy chaos on a potentially unprecedented scale, with dire consequences for economies and billions of people across the world."
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.