OPEC Leaves 2024 World Oil Demand Growth Forecast Unchanged At 2.25M B/D; Forecasts World Oil Demand Will Grow By 1.85M B/D In 2025
Portfolio Pulse from Charles Gross
OPEC's monthly report maintains its 2024 world oil demand growth forecast at 2.25 million barrels per day (B/D) and projects a growth of 1.85 million B/D for 2025.
January 17, 2024 | 12:50 pm
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The United States Oil Fund (USO) may be impacted by OPEC's forecast, as it tracks the price of oil and could see increased interest if demand growth aligns with projections.
OPEC's forecast is a key indicator for the oil market, and maintaining a steady growth projection could be seen as a positive sign for oil prices. As USO tracks the price of oil, positive sentiment in the oil market often translates to increased interest in USO. However, other market factors could also influence USO's performance.
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