The Organization of the Petroleum Exporting Countries (OPEC) has again reduced its forecast for oil demand growth in 2024. The group cited a need to replenish oil inventories as a key driver behind the revised projections. Meanwhile, supply risks in the Gulf region are mounting, adding uncertainty to near-term market outlooks.
OPEC's quarterly report indicates that these factors are reshaping expectations for global energy demand, with policymakers and traders closely monitoring developments in key producing and transit areas.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing