OPEC cuts 2024, 2025 oil demand growth forecasts
Investing.com -- OPEC lowered its global oil demand growth forecasts for 2024 and 2025, amid a slowness in economic growth in key markets such as China and India.
On the supply front, countries outside OPEC’s Declaration of Cooperation are expected to ramp up production, particularly in the United States, Canada, Brazil, and Norway, potentially exerting pressure on prices. China's growth estimates remain steady at 4.9% for 2024 and 4.7% for 2025, while India’s growth outlook is unchanged at 6.8% for 2024 and 6.3% for 2025.
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