OPEC Leaves 2024 World Oil Demand Growth Forecast Unchanged At 2.25M Barrels/Day, Leaves 2025 World Oil Demand Growth Forecast Unchanged At 1.85M Barrels/Day
Portfolio Pulse from Benzinga Newsdesk
OPEC has left its 2024 world oil demand growth forecast unchanged at 2.25 million barrels per day and its 2025 forecast unchanged at 1.85 million barrels per day.
June 11, 2024 | 12:02 pm
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POSITIVE IMPACT
OPEC's decision to leave its 2024 and 2025 world oil demand growth forecasts unchanged suggests stability in the oil market, which could positively impact the United States Oil Fund (USO).
The unchanged demand forecasts indicate a stable outlook for oil prices, which is likely to benefit USO as it tracks the price of oil. Stability in demand can lead to stable or rising oil prices, positively impacting USO's performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80