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OPEC maintains its forecast for global oil demand growth in 2024

Adel 12 October, 2023 4:03 pm Commodities, Forex Market, Market Update

The Organization of the Petroleum Exporting Countries (OPEC) on Thursday maintained its forecast for relatively strong growth in global oil demand in 2023 and 2024, citing signs of a resilient global economy so far this year and forecasting increased demand in China.

The organization stated in a monthly report that global demand for oil will increase by 2.25 million barrels per day in 2024, compared to an increase of 2.44 million barrels per day in 2023.

There was no change in the two forecasts from last month.

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