Forex
globalreutersOctober 15, 20241 Mins read
IEA cuts 2024 oil demand growth forecast amid China drag
globalreutersOctober 15, 20241 Mins read - 2024 world oil demand growth forecast seen at 860k bpd (previously 900k bpd)
- China demand seen only rising by 150k bpd in 2024
- 2025 world oil demand growth forecast seen at 1 mil bpd (previously 950k bpd)
IEA notes that “in the absence of a major disruption, the oil market is faced with a sizeable surplus in the new year”. For some context, IEA has been more grounded with their view through the year – as opposed to the overly optimistic one from OPEC, which they are now tuning down.
This article was written by Justin Low at www.forexlive.com.
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