OPEC lowered its forecast for global oil demand growth in 2024 to 1.82 million barrels per day in its monthly report for November, compared to 1.93 million barrels per day in the previous forecast.
OPEC also lowered its forecast for global oil demand growth in 2025 to 1.54 million barrels per day, compared to 1.64 million barrels per day in the previous forecast.
It indicated that its average crude oil production reached 26.53 million barrels per day in October 2024, an increase of 466 thousand barrels per day from September, boosted by Libyan production.
