03 Nov, 23

Uncertainty Surrounds Oil Demand Growth In 2024

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1. 2024 Demand Outlook Remains Murky as Forecasters Contradict One Another- As political narratives continue to shape the oil market’s sentiment about next year, two leading international organizations – the IEA and OPEC – have been holding widely different views about 2024 growth. – In its most recent oil market report, OPEC reiterated its expectation of world oil demand growing by 2.25 million b/d in 2024, only slightly lower than this year’s 2.44 million b/d, whilst the IEA expects a mere 880,000 b/d. – A Reuters survey…

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