OPEC Keeps 2025 Global Oil-Demand Growth Forecast At 1.8M Barrels/Day; Keeps 2024 Global Oil-Demand Growth Forecast At 2.2M Barrels/Day
Portfolio Pulse from Benzinga Newsdesk
OPEC maintains its global oil-demand growth forecasts, projecting an increase of 1.8 million barrels per day in 2025 and 2.2 million barrels per day in 2024.
April 11, 2024 | 12:02 pm
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POSITIVE IMPACT
The United States Oil Fund (USO) may see fluctuations based on OPEC's steady oil-demand growth forecasts for 2024 and 2025.
OPEC's forecasts are a key driver for oil market sentiments. Steady demand growth projections for 2024 and 2025 suggest a positive outlook for the oil market, potentially benefiting USO as it tracks the price of oil. The unchanged forecast might reinforce investor confidence in the stability of oil demand, possibly leading to an uptick in USO's price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75