{"id":96889,"date":"2024-02-13T17:50:08","date_gmt":"2024-02-13T13:50:08","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=96889"},"modified":"2024-02-13T17:52:26","modified_gmt":"2024-02-13T13:52:26","slug":"opec-upgrades-economic-growth-and-oil-demand-outlook","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/opec-upgrades-economic-growth-and-oil-demand-outlook\/02\/13\/market-updates\/","title":{"rendered":"OPEC Upgrades Economic Growth and Oil Demand Outlook"},"content":{"rendered":"\n<p>In its latest monthly report, OPEC has revised its global economic growth forecasts upward for 2024 and 2025, projecting a more optimistic outlook with expectations set at 2.7% and 2.9% respectively.<\/p>\n\n\n\n<p>On the oil front, OPEC maintains a steady outlook for global oil demand growth, with projections holding firm at 2.2 million barrels per day (b\/d) for 2024 and 1.8 million b\/d for 2025. However, there&#8217;s a tweak in expectations for non-OPEC supply growth, which sees a downward revision to 1.2 million b\/d in 2024, while remaining unchanged at 1.3 million b\/d for 2025.<\/p>\n\n\n\n<p>In terms of demand for OPEC oil, there&#8217;s a slight adjustment downwards, with anticipated figures now at 28.4 million b\/d for 2024 and 28.8 million b\/d for 2025.<\/p>\n\n\n\n<p>Moreover, OPEC anticipates a reduction in its own oil production by 350 thousand b\/d, reaching a projected low of 26.342 million b\/d in January 2024. These adjustments reflect OPEC&#8217;s ongoing efforts to navigate the dynamic global energy landscape.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In its latest monthly report, OPEC has revised its global economic growth forecasts upward for 2024 and 2025, projecting a more optimistic outlook with expectations set at 2.7% and 2.9% respectively. On the oil front, OPEC maintains a steady outlook for global oil demand growth, with projections holding firm at 2.2 million barrels per day &hellip;<\/p>\n","protected":false},"author":9,"featured_media":82293,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[7903,6846,6876],"class_list":["post-96889","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-economic-growth","tag-oil","tag-opec"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/96889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=96889"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/96889\/revisions"}],"predecessor-version":[{"id":96892,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/96889\/revisions\/96892"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/82293"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=96889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=96889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=96889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}