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OPEC cuts forecast of oil-demand growth for 2024, 2025 (Commodity:CO1:COM)

Dec. 11, 2024 8:23 AM ETBrent Futures (CO1:COM), CL1:COM, XOM Stock, CVX Stock, BP Stock, OXY Stock, SHEL Stock, XLE, USOBy: Rob Williams, SA News Editor
An oil rig in the Saudi Arabia desert

Ghulam Hussain

OPEC on Wednesday lowered its forecast of oil demand growth for this year and next for a fifth straight month. The cut was the cartel’s biggest reduction to the 2024 outlook yet after its members agreed to prolong curbs on production.

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