“OPEC” keeps expectations for oil demand in 2024

Organization of the Petroleum Exporting Countries (OPEC) on Wednesday maintained its expectations of relatively strong growth in global oil demand during 2024, and said that 2025 will witness a “strong” increase in oil consumption, led by China and the Middle East.

According to Reuters, OPEC’s expectations come earlier than usual.

OPEC said in its monthly report that global demand for oil will rise by 1.85 million barrels per day in 2025. It also expected demand to grow by 2.25 million barrels per day during the current year, which is the same forecast as last month.

​