OPEC expects strong demand for fuel in the summer months.
Pulbished on:
London, April 11, (LANA) - The Organization of the Petroleum Exporting Countries (OPEC), expected on Thursday, strong demand for fuel in the summer months and held to its expectations for relatively strong growth in global demand for oil in 2024.
OPEC added in a monthly report, that global demand for oil will increase by 2.25 million barrels per day in 2024 and by 1.85 million barrels per day in 2025.
OPEC said in the report, "Despite some downside risks, the continuation of the momentum we saw at the beginning of this year, may produce prospects that push global economic growth in 2024."
OPEC is scheduled to hold a meeting in June to decide whether to extend the production cut or pump more into the market.
=Lana=