OPEC cuts 2025 global oil demand growth forecast, citing US tariffs
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OPEC reduced its 2025 global oil demand growth forecast by 150,000 barrels per day, citing first-quarter data and US trade tariffs. The organization also lowered global economic growth projections for this year and next, highlighting increased economic uncertainty. Despite the reduction, OPEC still expects oil demand to continue rising, contrasting with the International Energy Agency's prediction of peak demand this decade.
April 14, 2025 | 12:30 pm
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OPEC's reduced oil demand growth forecast could impact the United States Oil Fund (USO), potentially creating short-term market uncertainty for oil-related investments.
The reduction in oil demand forecast by OPEC suggests potential downward pressure on oil prices, which could negatively impact USO's performance in the short term. The cut of 150,000 barrels per day and increased economic uncertainty contribute to potential market volatility.
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