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post: IEA: GLOBAL OIL DEMAND WILL RISE TO NEARLY 106 MLN BPD TOWARD END OF DECADE FROM AROUND 102 MLN BPD IN 2023. post: IEA: OIL DEMAND IN ADVANCED ECONOMIES WILL FALL TO LESS THAN 43 MLN BPD BY 2030 FROM CLOSE TO 46 MLN BPD IN 2023. post: IEA: NON-OPEC+ PRODUCERS LED BY US WILL MAKE UP THREE-QUARTERS OF PRODUCTION CAPACITY INCREASE TO 2030. post: IEA LOWERS 2024 DEMAND GROWTH FORECAST BY 100,000 BPD TO 960,000 BPD.
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The path forward for OPEC+ is perilously narrow. Some members are laser-focused on a higher oil price to balance their budgets, while others prioritize volume. Some members are overproducing while others continue to accept voluntary cuts. African members feel neglected. Russia, Iran and Venezuela remain under sanction. Production quotas have contributed to ...