Opec upbeat over oil demand outlook despite for next year despite slowdown

OPEC will likely maintain an upbeat view on oil demand growth for next year when it publishes its first outlook later this month, predicting a slowdown from this year but still an above average increase, sources close to OPEC said.

OPEC’s forecast for 2024 will likely be lower than the growth it expects to this year of 2.35 million barrels per day, or 2.4%, an abnormally high rate as the world moved out of the coronavirus pandemic.