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Weak fuel demand
- 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.
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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.
- Oil prices face pressure from slow China demand and inventory ...
Analysts have lowered their 2024 oil price outlook due to...
- OPEC cuts oil demand growth forecast, highlighting dilemma ...
OPEC on Monday cut its forecast for global oil demand growth...
- Oil prices face pressure from slow China demand and inventory ...
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 output...
Aug 12, 2024 · OPEC on Monday cut its forecast for global oil demand growth in 2024 citing softer expectations for China, a reduction that highlights the dilemma faced by the wider OPEC+ group in raising...
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%.
3 days ago · The IEA Oil Market Report (OMR) is one of the world's most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Published October 2024.
Sep 12, 2024 · Highlights. Global oil demand growth continues to decelerate, with reported 1H24 gains of 800 kb/d y-o-y the lowest since 2020. The chief driver of this downturn is a rapidly slowing China, where consumption contracted y-o-y for a fourth straight month in July, by 280 kb/d.
Sep 12, 2024 · Amid an abrupt deceleration in Chinese oil consumption, global demand growth is cooling sharply from the rates seen in recent years, which we have been projecting since our first forecast for 2024 was published in June 2023.
