OPEC keeps its forecast for global oil demand unchanged

On the other hand, the organization reduced the growth expectations of oil supply from outside the organization during the current year to 1.2 million barrels per day, compared to stabilizing it for next year..

The OPEC report also showed a decline in the production of the organization’s members during last January by about 350 thousand barrels per day to reach 26.34 million barrels per day. With the entry into force of a new package of voluntary cuts by the “OPEC+” group.

Regarding expectations”OPECFor global economic growth, it raised it to 2.7 percent this year, compared to its previous forecast of 2.6 percent. It also raised its forecast for global economic growth in 2025 to 2.9 percent, compared to 2.8 percent in the previous reading..

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