OPEC lowered its forecast for global oil demand growth for 2024 and 2025 on Tuesday, highlighting weakness in China, India and other regions, making the producer group’s fourth consecutive downward revision in the 2024 outlook, Reuters’ Alex Lawler reports. In its monthly report, OPEC said world oil demand would rise by 1.82M bpd in 2024, down from growth of 1.93M bpd forecast last month. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Shell (SHEL) and TotalEnergies (TTE).
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