Opec makes fifth and biggest cut to 2024 oil demand growth forecast

Quick Summary:

The weaker outlook from Opec highlights China’s sputtering role as the world’s demand growth engine.

Opec also cut its 2025 growth estimate to 1.45 million bpd from 1.54 million bpd.

The 210,000 bpd cut in the 2024 figure is the largest of the five reductions Opec has made in its monthly reports since August.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaIndia

Topics: Opec+ Countries Demand Month Million World’s 2024 China’s Outlook Opec Growth

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-11 @ 23:37:27 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 576 words

Reading Time: 4 minutes read

Sentences: 28 lines

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Copyright Owner: © The Straits Times

News ID: 24356667

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