OPEC Further Trims Oil-Demand Forecast After Output-Hike Delay
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OPEC has reduced its oil-demand growth forecast for the fifth month in a row, delaying output hikes due to softer prices and concerns over global consumption.
December 11, 2024 | 1:15 pm
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The United States Brent Oil Fund (BNO) may experience short-term price fluctuations due to OPEC's decision to cut its oil-demand growth forecast and delay output hikes.
OPEC's decision to cut its oil-demand growth forecast and delay output hikes can lead to uncertainty in oil prices. As BNO tracks Brent oil prices, it may experience volatility. However, the exact direction is uncertain due to mixed signals from demand forecasts and output decisions.
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IMPORTANCE 70
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