According to OPEC's latest monthly report, the organization forecasts global oil demand growth to reach 2.25 million barrels per day (mb/d) in 2024, unchanged from its previous projection.
For 2025, OPEC expects global oil demand growth to slow to 1.85 mb/d, also unchanged from its prior forecast.
Additionally, OPEC has revised down its 2024 global economic growth projection from 2.9% to 2.8%, while maintaining its 2025 global economic growth forecast at 2.9%.
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