OPEC's Monthly Report - May 14
Posted: Tue May 14, 2024 10:08 am
In its closely-watched Monthly Oil Market Report (MOMR) out today, OPEC maintained its forecast from the April report, which sees global oil demand rising by 2.25 million barrels per day (bpd) this year and by another 1.85 million bpd next year.
OPEC estimates that global oil demand rose by 2.4 million bpd in the first quarter of 2024. For the full year, total world oil demand is anticipated to reach 104.5 million bpd, driven by “strong air travel demand and healthy road mobility, including trucking, as well as industrial, construction, and agricultural activities in non-OECD countries.”
Read more: https://oilprice.com/Latest-Energy-News/World-News/OPEC-Remains-Optimistic-About-Global-Oil-Demand-Growth.html
OPEC estimates that global oil demand rose by 2.4 million bpd in the first quarter of 2024. For the full year, total world oil demand is anticipated to reach 104.5 million bpd, driven by “strong air travel demand and healthy road mobility, including trucking, as well as industrial, construction, and agricultural activities in non-OECD countries.”
Read more: https://oilprice.com/Latest-Energy-News/World-News/OPEC-Remains-Optimistic-About-Global-Oil-Demand-Growth.html