Quoted

“The IEA demand forecast differs from a more optimistic scenario presented by OPEC in its “Monthly Oil Market Report” published a day earlier. While the IEA sees “subdued global economic growth,” OPEC’s assessment is for more robust economic growth of 2.6%, leading to a 2.25 mb/d rise in oil demand. Another key forecast, by the U.S. Energy Information Administration, is closer to the IEA estimate for demand growth. The EIA in its “Short Term Energy Outlook” released January 9 projected demand growth of 1.39 mb/d in 2024.” Kate Dourian, IEA Cuts Oil Demand Forecast for 2024 but OPEC Remains Bullish [Arab Gulf States Institute in Washington]





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