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1. • • Underwhelming data so far this year and expectations of softening Chinese demand growth prompted OPEC to cut its forecasts of global oil demand growth this year and next, in the first downward revision since the organization issued its initial estimate for 2024 a year ago.
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     OPEC Cuts Oil Demand Growth Estimates as China’s Economy ...

2. People also ask

   Why did OPEC cut its 2025 oil demand forecast?

   • Earlier this month, the U.S. Energy Information Administration slashed its 2025 global oil demand growth forecast, citing weakening economic activity in China. OPEC also lowered its demand growth forecast for 2024 and next year.

   Sluggish demand, supply glut worries to weigh on oil in 2025

   www.reuters.com/markets/commodities/sluggish-demand-supply-glut-worries-weigh-oil-2025-2024-10-31/

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   Why did OPEC cut its forecast for 2022?

   • Our Standards: The Thomson Reuters Trust Principles. OPEC on Monday cut its forecast for 2022 global oil demand growth for a fifth time since April and further trimmed next year's figure, citing mounting economic challenges including high inflation and rising interest rates.

   OPEC cuts oil demand growth forecast again as economic challenges m…

   www.reuters.com/business/energy/opec-cuts-oil-demand-growth-forecast-again-economic-challenges-mount-2022-11-14/

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   What will OPEC cut in 2025?

   • For next year, OPEC cut its 2025 global oil demand growth estimate to 1.74 million b/d from 1.78 million b/d, also at the top end of what the industry expects. OPEC+ has implemented a series of output cuts since late 2022 to support the market, most of which are in place until the end of 2025.

   OPEC again lowers its 2024, 2025 global oil demand growth forecast

   www.theglobeandmail.com/business/industry-news/energy-and-resources/article-opec-again-lowers-its-2024-2025-global-oil-demand-growth-forecast/

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   Will OPEC increase oil demand in 2024?

   • On Monday, OPEC in a monthly report said world oil demand will rise by 1.93 million barrels per day (bpd) in 2024, down from growth of 2.03 million bpd it expected last month. Until August, OPEC had kept the forecast unchanged since it was first made in July 2023. China accounted for the bulk of the 2024 downgrade.

   OPEC cuts 2024, 2025 global oil demand growth view again

   www.reuters.com/markets/commodities/opec-cuts-2024-2025-global-oil-demand-growth-view-again-2024-10-14/

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   What is OPEC's outlook for 2025?

   • OPEC left its 2025 view unchanged at 2.9 per cent and said there was potential to revise up next year’s figure. For next year, OPEC cut its 2025 global oil demand growth estimate to 1.74 million b/d from 1.78 million b/d, also at the top end of what the industry expects.

   OPEC again lowers its 2024, 2025 global oil demand growth forecast

   www.theglobeandmail.com/business/industry-news/energy-and-resources/article-opec-again-lowers-its-2024-2025-global-oil-demand-growth-forecast/

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   What will OPEC expect in 2022 & 2023?

   • Next year, OPEC expects oil demand to rise by 2.24 million bpd, also 100,000 bpd lower than previously forecast. Despite commenting on the rising challenges, OPEC left its 2022 and 2023 global economic growth forecasts steady and said while risks were skewed to the downside, there was also upside potential. "This may come from a variety of sources.

   OPEC cuts oil demand growth forecast again as economic challenges m…

   www.reuters.com/business/energy/opec-cuts-oil-demand-growth-forecast-again-economic-challenges-mount-2022-11-14/

   See all results for this question

3. www.reuters.com › markets › commoditiesOPEC cuts 2024, 2025 global oil demand growth view again

   www.reuters.com › markets › commodities

   Oct 14, 2024 · LONDON, Oct 14 (Reuters) - OPEC on Monday cut its forecast for global oil demand growth in 2024 reflecting data received so far this year and also lowered its projection for next...

   • Sluggish demand, supply glut worries to weigh on oil in 2025

     Global oil demand seen up 1 mln-1.5 mln bpd in 2025. For...

   • OPEC cuts oil demand growth forecast again as economic ...

     OPEC on Monday cut its forecast for 2022 global oil demand...

4. www.theglobeandmail.com › business › industry-newsOPEC again lowers its 2024, 2025 global oil demand growth ...

   www.theglobeandmail.com › business › industry-news

   • Cached

   Sep 10, 2024 · OPEC on Tuesday cut its forecast for global oil demand growth in 2024, reflecting data received so far this year and also trimmed its expectation for next year, marking the producer group’s...

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6. www.cnn.com › 2024/06/02 › businessOPEC+ to extend deep oil production cuts into 2025 - CNN

   www.cnn.com › 2024/06/02 › business

   • Cached

   Jun 2, 2024 · The Organization of the Petroleum Exporting Countries and its allies — a group of leading oil producers known as OPEC+ — agreed Sunday to extend production cuts announced last year into 2025.

7. www.reuters.com › markets › commoditiesSluggish demand, supply glut worries to weigh on oil in 2025

   www.reuters.com › markets › commodities

   2 days ago · Global oil demand seen up 1 mln-1.5 mln bpd in 2025. For table of crude price forecasts, click. Oct 31 (Reuters) - Concerns around demand from top consumer China, prospects of higher supply from ...

8. ca.finance.yahoo.com › news › opec-cuts-2024-2025OPEC cuts 2024, 2025 global oil demand growth view again

   ca.finance.yahoo.com › news › opec-cuts-2024-2025

   • Cached

   Oct 14, 2024 · OPEC said this year's demand growth was still above the historical average of 1.4 million bpd seen prior to the COVID-19 pandemic, which caused a plunge in oil use. For next year, OPEC...

9. www.reuters.com › business › energyOPEC cuts oil demand growth forecast again as economic ...

   www.reuters.com › business › energy

   Nov 14, 2022 · OPEC on Monday cut its forecast for 2022 global oil demand growth for a fifth time since April and further trimmed next year's figure, citing mounting economic challenges including high...

10. oilprice.com › Energy › Energy-GeneralOPEC Slashes Oil Demand Growth Forecast Again

    oilprice.com › Energy › Energy-General

    • Cached

    Oct 14, 2024 · OPEC has lowered its global oil demand growth forecast for 2024 and 2025, citing weaker Chinese demand and slower economic activity.