OPEC Lowers Global Oil Demand Outlook as China's Appetite Wanes
418 sats \ 6 comments \ @TomK 18 Aug econ
OPEC has revised its global oil demand projections for 2024 and 2025, signaling a notable shift in market dynamics. The cartel now anticipates a demand increase of 2.11 million barrels per day (mb/d) this year, tapering to 1.78 mb/d in 2025. This is a downgrade from the previous estimates of 2.25 mb/d and 1.85 mb/d, respectively. The revised forecast places global oil demand at 104.32 mb/d for 2024, slightly down from the earlier projection of 104.46 mb/d.
This adjustment is largely driven by expectations of a slowdown in China's economic engine, a key factor influencing the global energy market.
https://m.stacker.news/46721https://m.stacker.news/46722https://m.stacker.news/46723
write
preview
related posts
47 sats \ 1 reply \ @JesseJames 19 Aug
Natural twists and turns methinks. It will get worse before it will get better. If we have reserves for 100's of years why don't we try to "Thank them" and start using our own for 20 years or so and see how it goes. I have a feeling it would get better in a very short period of time. It would be cheaper to import by then.
reply
0 sats \ 0 replies \ @TomK OP 19 Aug
Kalamari will inact max prices on energy. Problem solved
reply
47 sats \ 2 replies \ @Satosora 18 Aug
So everyone is noticing the effects of Chinas slowdown? Do you think they have the power to attack Taiwan, or working with their struggles, first?
reply
20 sats \ 1 reply \ @TomK OP 19 Aug
There won't be any invasion. They already have their trade war with the US
reply
0 sats \ 0 replies \ @Satosora 19 Aug
I dont know. I can see china going for the land grab.
reply
47 sats \ 0 replies \ @BlokchainB 18 Aug
China is cooked
reply