The Organization of the Petroleum Exporting Countries (OPEC) has raised its forecast for global oil demand growth in 2023, predicting a slight slowdown next year despite economic challenges as China and India continue to lead growth in fuel use.
In its monthly report, OPEC expects global oil demand to grow by 2.25 million barrels per day or 2.2 percent, in 2024, down from growth of 2.44 million barrels per day in 2023. OPEC's forecast for demand growth in 2024 is higher than those of the International Energy Agency, another closely watched institution, whose forecasts were updated earlier.
Source (Al-Arabiya.net Website, Edited)
