Forex
globalreutersOctober 14, 20241 Mins read
OPEC slashes global oil demand growth forecast for third month in a row
globalreutersOctober 14, 20241 Mins read - 2024 global oil demand growth forecast to 1.93 mil bpd (previously 2.03 mil bpd)
- 2025 global oil demand growth forecast to 1.64 mil bpd (previously 1.74 mil bpd)
The main reason for the lower revision was China, with OPEC now anticipating demand growth there of 580k bpd – down from 650k bpd in the previous report. Then again, one must remember that OPEC’s forecasts has been arguably the most bullish compared with other forecasters. So, the downgrades here are mainly catching up to the consensus outlook of the market.
This article was written by Justin Low at www.forexlive.com.
Recent Posts
Categories
Related Articles
USDCHF moves above converged 100 and 200 hour MAs and rockets higher
Earlier today, I posted:USDCHF: The USDCHF held resistance at the 100-hour moving...
Matt Gaetz withdraws name for Attorney General nomination
This article was written by Greg Michalowski at www.forexlive.com.
Fed’s Goolsbee: It may make sense to slow pace of interest rate cuts
It make sense for the Fed to slow the pace of interest...
Major European indices close higher on the day
Major European indices are closing higher on the day. The gains are...
Leave a comment