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OPEC sticks with robust 2024 demand growth forecast
In its final Monthly Oil Market Report (MOMR) of the year, Opec has stuck with a robust oil demand growth projection of 2.25mn b/d for next year, following on from a 2.46mn b/d increase this year. Notably, there is zero change to its first-quarter estimate when some members of the wider Opec+ group are due to implement additional "voluntary" output cuts. Opec said its forecast — which brings total oil demand to a record 104.36mn b/d next year — is underpinned by "sustained economic and petrochemical activity across major consumer nations, which fosters demand for transportation fuels and distillates in ... (full story)