IEA sees slowing oil demand for 2024 as China’s consumption drops
The slowdown in global oil demand looks set to continue, with China’s “post-pandemic rebound” over, says the International Energy Agency.
The slowdown in global oil demand looks set to continue, with China’s “post-pandemic rebound” over, says the International Energy Agency.
GlobalData argues growing demand for energy and petrochemicals, and ongoing energy security concerns, could prompt rising oil demand to 2030.
Russia has promised to meet its OPEC+ oil production targets in June, after pumping too much oil in May and exceeding the body’s limits.
Despite expected production increases, global oil markets are likely to face a supply deficit as 2024 progresses, continuing into 2025.
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