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1. www.reuters.com › business › energyOil falls 2% as OPEC cuts oil demand growth view, China ...

   www.reuters.com › business › energy

   5 days ago · China, the world's largest crude oil importer, accounted for the bulk of the 2024 downgrade as OPEC trimmed its growth forecast for the country to 580,000 barrels per day (bpd) from 650,000 bpd.

2. www.jpmorgan.com › commodities › oil-price-forecastThe Forecast for Oil Prices | J.P. Morgan Research

   www.jpmorgan.com › commodities › oil-price-forecast

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   3 days ago · In addition, global oil inventories are much lower today, currently standing at 4.4 billion barrels — the lowest on record since January 2017. Overall, J.P. Morgan Commodities Research forecasts Brent could average $80/bbl in the fourth quarter of 2024 and $75/bbl in 2025, declining to the low $60s by end-2025.

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4. www.reuters.com › markets › commoditiesOil prices face pressure from slow China demand and inventory ...

   www.reuters.com › markets › commodities

   Aug 30, 2024 · Analysts have lowered their 2024 oil price outlook due to weak fuel demand from leading importer China and rising inventory levels as Saudi Arabia and OPEC+ allies prepare to ease some...

5. www.cnbc.com › 2024/10/14 › crude-oil-prices-todayCrude oil prices today: WTI, Brent fall after China press ...

   www.cnbc.com › 2024/10/14 › crude-oil-prices-today

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   4 days ago · China driving oil markets in a ‘different way’ this year: S&P Global. U.S. crude oil futures fell more than 2% on Monday after OPEC cut its demand forecast for 2024 for the third time in a...

6. www.iea.org › reports › oil-2024Executive summary – Oil 2024 – Analysis - IEA

   www.iea.org › reports › oil-2024

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   Emerging economies in Asia, particularly China and India, account for all of global demand growth. By contrast, oil demand in advanced economies falls sharply. Rising world oil supplies, led by non‑OPEC+ producers, are expected to surpass forecast demand from 2025 onwards.

7. www.opec.org › OPEC_MOMR_January-2024Feature article: Oil market outlook for 2025 - OPEC

   www.opec.org › OPEC_MOMR_January-2024

   2024 remains at 0.9%, while growth in 2025 is forecast to pick up slightly to 1%. China’s economic growth forecast for 2024 remains at 4.8%, with economic growth forecast for 2025 at 4.6%.

8. People also ask

   Will global oil demand grow in 2024?

   • Analysts anticipated global oil demand growing by 1.0 to 1.3 million barrels per day (mbpd) in 2024, compared with 1 and 1.5 mbpd growth forecast in the previous poll. OPEC also cut its forecast for global oil demand growth in 2024, citing weaker than expected data for the first half of the year and lower expectations for demand from China.

   Oil prices face pressure from slow China demand and inventory rise

   www.reuters.com/markets/commodities/oil-prices-face-pressure-slow-china-demand-inventory-rise-2024-08-30/

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   Why have analysts lowered their 2024 oil price outlook?

   • REUTERS/Drone Base/File Photo Purchase Licensing Rights Aug 30 (Reuters) - Analysts have lowered their 2024 oil price outlook due to weak fuel demand from leading importer China and rising inventory levels as Saudi Arabia and OPEC+ allies prepare to ease some output cuts from October, a Reuters poll found.

   Oil prices face pressure from slow China demand and inventory rise

   www.reuters.com/markets/commodities/oil-prices-face-pressure-slow-china-demand-inventory-rise-2024-08-30/

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   Why did OPEC downgrade crude oil in 2024?

   • China, the world's largest crude oil importer, accounted for the bulk of the 2024 downgrade as OPEC trimmed its growth forecast for the country to 580,000 barrels per day (bpd) from 650,000 bpd. China's crude imports for the first nine months of the year fell nearly 3% from last year to 10.99 million bpd, data showed.

   Oil falls 2% as OPEC cuts oil demand growth view, China concerns

   www.reuters.com/business/energy/oil-prices-fall-by-more-than-1-chinese-economic-data-2024-10-13/

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   What will China's oil demand look like in 2024?

   • grow by a healthy 565 tb/d, y-o-y, in 1H24.Overall in 2024, despite an expected easing in the momentum of China’s GDP growth compared with 2023, oil demand is expected to be supported by sustained healthy services sector activity, a recovery in manufacturing act

   Feature article: Oil market outlook for 2025 - OPEC

   www.opec.org/opec_web/static_files_project/media/downloads/publications/OPEC_MOMR_January-2024.pdf

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   Did OPEC cut forecast for global oil demand growth in 2024?

   • U.S. heating oil futures fell 5% in late trading. U.S. gasoline futures eased over 4%. OPEC on Monday cut its forecast for global oil demand growth in 2024 and also lowered its projection for next year, marking the producer group's third consecutive downward revision.

   Oil falls 2% as OPEC cuts oil demand growth view, China concerns

   www.reuters.com/business/energy/oil-prices-fall-by-more-than-1-chinese-economic-data-2024-10-13/

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   What is OPEC crude demand in 2024?

   • , m-o-m, in November, standing at 61.5 days. This wa 2019 average. Balance of Supply and DemandDemand for OPEC crude in 2024 stands at 28.5 mb/d, which is 0.8 b/d higher than the estimated level in 2023. Based on the initial world oil demand and non-OPEC supply forecast for 2025, demand for OPEC crude is expected to reach 29.0 mb/d, 0.

   Feature article: Oil market outlook for 2025 - OPEC

   www.opec.org/opec_web/static_files_project/media/downloads/publications/OPEC_MOMR_January-2024.pdf

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9. 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...