OPEC maintains oil demand growth forecast for 2024-2025

OPEC has maintained its forecast for oil demand growth in 2024 and 2025.

In 2024, demand will increase by 2.25 million barrels per day (b/d) - to 104.46 million b/d, and in 2025 by another 1.85 million b/d - to 106.31 million b/d, Report informs, citing Interfax.

The forecast for oil supplies from non-OPEC countries has been adjusted slightly: in 2024, OPEC expects an increase of 1.07 million b/d to 70.44 million b/d, while a month ago it was forecast to grow by 1 million b/d - up to 70.53 million b/d.

The growth forecast for 2025 increased from 1.3 million to 1.4 million b/d and now stands at 71.75 million b/d.