• 2024 world oil demand growth forecast seen at 2.11 mil bpd (previously 2.25 mil bpd)
• 2025 world oil demand growth forecast seen at 1.78 mil bpd (previously 1.85 mil bpd)

On the change, OPEC says that softening expectations for China’s oil demand is the main reason for that. But the bloc maintains that despite a slow start to the summer driving season, fuel demand is expected to remain „solid due to healthy road and air mobility“.

This article was written by Justin Low at www.forexlive.com.