Oil crisis – OPEC worsened demand forecasts in 2024 and 2025
The Organization of the Petroleum Exporting Countries (OPEC) has downgraded its forecasts for global oil demand growth in 2024 and 2025 for the third month in a row, as the group acknowledges a slowdown in global fuel use, Bloomberg reports. In its monthly report, OPEC said it expects global oil...
World Bank: Average oil price to average $90 per barrel this year
The World Bank (WB) announces that global oil prices are likely to average $90 per barrel. This will occur in the fourth quarter of 2023. It is also likely to fall to an average of $81 per barrel in 2024. In the latest "Commodity Markets Outlook" report, the price of...
