- 2024 global oil demand growth forecast seen at 1.22 mil bpd (previously 1.24 mil bpd)
- Global oil demand growth is losing momentum, pace set to decelerate in part due to China
- Oil market balances tightened in January, driven by supply outages in US and Canada
- Expects slight inventories build in Q1 despite OPEC+ cuts
The debate rages on in the oil market. OPEC is saying one thing while IEA and most others are saying another. Only time will tell who will win out this year.
