BancaMarch | On expectations of a slowdown in demand from China, OPEC downgrades its global oil demand projections for 2024 and 2025. In its monthly report released on Monday, the cartel forecast demand growth of 2.11 million barrels per day (mb/d) this year and 1.78 mb/d in 2025 (down from 2.25 mb/d and 1.85 mb/d previously estimated).
In aggregate, according to the group’s forecasts, global demand for this year would reach 104.32 million mb/d, slightly below the 104.46 mb/d estimated in the previous report in July.
