OPEC maintains global oil demand growth forecasts for 2024, 2025

03:33 PM (Mecca time) Argaam
Logo ofOPEC

Logo of OPEC

The Organization of the Petroleum Exporting Countries (OPEC) maintained its forecasts for global oil demand growth for 2024 and 2025, citing a resilient economic outlook.

 

The group currently expects global oil demand to grow by 1.3 million barrels annually this year, unchanged from its previous month's estimate.

 

OPEC expects the global economy to perform better than previously anticipated in the second half of the year despite ongoing trade tensions.

 

It also anticipates that refinery crude consumption will remain elevated due to increased travel during the summer, further supporting demand projections.

 

According to OPEC’s report released today, July 15, OPEC+, which includes OPEC members and other oi-producing nations, pumped 41.56 million barrels per day (bpd) in June, marking an increase of 349,000 bpd from May. However, this figure falls short of the group’s targeted increase of 411,000 bpd.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.