OPEC maintains 2024-2025 oil demand growth forecast at 2.25/1.85 mbpd due to strong economic growth and air travel rebound.

OPEC has maintained its forecast for relatively strong growth in global oil demand in 2024 and 2025, citing resilient economic growth and a strong rebound in air travel during the summer months. The group has predicted that global oil demand will rise by 2.25 million barrels per day (bpd) in 2024 and by 1.85 million bpd in 2025, with both figures remaining unchanged from its first forecast in January 2024.

July 10, 2024
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