IEA cuts 2024 oil demand growth forecast amid China drag ...Middle East

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IEA cuts 2024 oil demand growth forecast amid China drag
source : forex live ( Middle East ) () 35
2024 world oil demand growth forecast seen at 860k bpd (previously 900k bpd)China demand seen only rising by 150k bpd in 20242025 world oil demand growth forecast seen at 1 mil bpd (previously 950k bpd)IEA notes that "in the absence of a major disruption, the oil market is faced with a sizeable surplus in the new year". For some context, IEA has been more grounded with their view through the year - as opposed to the overly optimistic one from OPEC, which they are now tuning down. This article was written by Justin Low at www.forexlive.com.

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