- 2024 world oil demand growth forecast unchanged at 2.25 mil bpd
- 2025 world oil demand growth forecast unchanged at 1.85 mil bpd
- Raises 2024 world economic growth forecast to 2.7% (previously 2.6%)
- Raises 2025 world economic growth forecast to 2.9% (previously 2.8%)
OPEC notes that it sees further upside potential in the global economy, which should help to underpin demand conditions this year and next. Keep in mind that their forecast continues to run against the narrative from the likes of others such as the IEA. On prices, the bloc says that the rise in January is helped by easing of selling pressures from speculators.
