OPEC expects strong oil demand worldwide
2023-12-14T18:56:42+00:00
Shafaq News/ OPEC expects rising oil demand, as it says in a report today.
The world’s daily requirement was expected to increase by 2.2 million barrels the following year, reaching around 104.4 million bpd.
OPEC noted this could be due to the expected recovery of global economic activities, especially in China, a significant buyer. In this case, the report pointed out that the fears about low demand levels by 2024 were exaggerated and caused partly by speculative actions that led to the oil price drop.
In this regard, “oil demand is expected to increase by a further 2.25 million barrels per day to roughly 104.4 million barrels per day as world GDP growth provides further support.”
