US Total Crude Oil Stocks Decline in Week Ended Dec. 6

MT Newswires8minutes ago

OPEC has cut its oil demand forecast for the fifth consecutive month, with the largest reduction to date.

OPEC has lowered its forecast for Consumer growth in 2024 by 0.21 million barrels per day to 1.6 million barrels per day. Since July, OPEC has reduced its forecast by 27%. Analysts believe that OPEC's forecast still exceeds the general market expectations and there is a gap with this year's actual Consumer data.

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