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Comparative Analysis of Monthly Reports on the Oil Market
Forecasts for short-term global oil consumption have slightly reduced divergence compared to last month. OPEC has revised its global demand growth down by 0.1 mb/d to 2.1 mb/d for 2024 y/y for the first time this year, but its forecasts are still higher by more than a million barrels a day compared to the IEA and EIA. This slight revision by OPEC features real data collected for the first quarter of 2024 and, in certain instances, the second quarter of 2024. Additionally, it reflects a modest decrease in growth expectations for Chinese oil demand in 2024. In contrast, the IEA and EIA expect global demand growth of ... (full story)
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- Posted: Aug 15, 2024 5:17am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 109
