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1. • Weaker demand and uncertainty over OPEC’s plans

     • Analysts have cut their 2024 oil price forecasts for a fifth consecutive month, citing weaker demand and uncertainty over OPEC’s plans, with prices expected to remain under pressure despite geopolitical risks, a Reuters poll found on Monday.
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     Oil forecasts cut for 5th straight month on demand, OPEC ...

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   Why have analysts cut their 2024 oil price forecasts?

   • Sept 30 (Reuters) - Analysts have cut their 2024 oil price forecasts for a fifth consecutive month, citing weaker demand and uncertainty over OPEC’s plans, with prices expected to remain under pressure despite geopolitical risks, a Reuters poll found on Monday.

   Oil forecasts cut for 5th straight month on demand, OPEC uncertainty

   www.reuters.com/markets/commodities/oil-forecasts-cut-5th-straight-month-demand-opec-uncertainty-2024-09-30/

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   What will oil prices look like in 2024?

   • Analysts forecast weak global economic growth in 2024, predicting that oil demand and prices will remain subdued, with WTI crude expected to average $78.84 per barrel. Oil prices, which had averaged above $100 per barrel in 2022, were significantly lower in 2023 and averaged just above $80 a barrel—despite another war breaking out in the world.

   Why Oil Prices Will Continue To Lag in 2024 | OilPrice.com

   oilprice.com/Energy/Crude-Oil/Why-Oil-Prices-Will-Continue-To-Lag-in-2024.html

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   Will weak global economic growth slow oil demand growth in 2024?

   • Expected weak global economic growth would slow oil demand growth in 2024, keeping the average U.S. benchmark oil price below $80 per barrel, according to the monthly Reuters poll in which analysts revised down their forecasts for 2024 from the previous month’s projections.

   Why Oil Prices Will Continue To Lag in 2024 | OilPrice.com

   oilprice.com/Energy/Crude-Oil/Why-Oil-Prices-Will-Continue-To-Lag-in-2024.html

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   Will OPEC increase oil prices in 2024?

   • The U.S. and other non-OPEC+ countries increased oil production, offsetting OPEC+ supply curbs and limiting price increases. Analysts forecast weak global economic growth in 2024, predicting that oil demand and prices will remain subdued, with WTI crude expected to average $78.84 per barrel.

   Why Oil Prices Will Continue To Lag in 2024 | OilPrice.com

   oilprice.com/Energy/Crude-Oil/Why-Oil-Prices-Will-Continue-To-Lag-in-2024.html

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3. www.reuters.com › markets › commoditiesOil forecasts cut for 5th straight month on demand, OPEC ...

   www.reuters.com › markets › commodities

   2 hours ago · Analysts have cut their 2024 oil price forecasts for a fifth consecutive month, citing weaker demand and uncertainty over OPEC’s plans, with prices expected to remain under pressure despite ...

   • Oil price forecasts cut as supply risks trend lower, Reuters ...

     Analysts have lowered their 2024 oil price forecast for the...

4. oilprice.com › Energy › Oil-PricesAnalysts Cut Oil Price Forecasts for Fourth Consecutive Month

   oilprice.com › Energy › Oil-Prices

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   Aug 30, 2024 · Weaker-than-expected Chinese oil demand and high inventories globally have prompted economists and analysts in a Reuters poll to reduce their oil price forecasts for 2024 for the fourth...

   • Author: Tom Kool

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6. www.reuters.com › markets › commoditiesOil price forecasts cut as supply risks trend lower, Reuters ...

   www.reuters.com › markets › commodities

   May 31, 2024 · Analysts have lowered their 2024 oil price forecast for the first time since February, reflecting lower risks to supply from ongoing wars in the Middle East and Ukraine, a Reuters...

7. www.reuters.com › business › energySubdued demand to keep oil prices steady despite geopolitical ...

   www.reuters.com › business › energy

   Jul 31, 2024 · Analysts are holding their oil price forecasts largely steady for the second half of 2024, as geopolitical risks offset muted demand from major consumers like China, a Reuters poll...

8. oilprice.com › Energy › Crude-OilWhy Oil Prices Will Continue To Lag in 2024 | OilPrice.com

   oilprice.com › Energy › Crude-Oil

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   Jan 4, 2024 · Analysts forecast weak global economic growth in 2024, predicting that oil demand and prices will remain subdued, with WTI crude expected to average $78.84 per barrel. Oil prices, which had...

9. www.iea.org › reports › oil-market-report-august-2024Oil Market Report - August 2024 – Analysis - IEA

   www.iea.org › reports › oil-market-report-august-2024

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   Aug 13, 2024 · Annual gains accelerate from 730 kb/d in 2024 to 1.9 mb/d in 2025. Non-OPEC+ production increases by 1.5 mb/d this year and next, while OPEC+ may fall by 760 kb/d in 2024 but rise by 400 kb/d in 2025 if voluntary cuts stay in place.

10. www2.deloitte.com › ca › enDeloitte Canada predicts weak oil and gas market in 2024, but ...

    www2.deloitte.com › ca › en

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    Jan 9, 2024 · Although its recently released 2024 chemical industry outlook predicts sluggish demand in the near term, Deloitte says the industry’s importance to energy transition will eventually have a major impact on industry growth.