Key Points
HOUSTON (Reuters) -Global oil benchmark Brent crude futures settled at their lowest since December 2021 on Tuesday, after OPEC+ revised down its demand forecast for this year and 2025, offsetting supply concerns from Tropical Storm Francine...
On Tuesday, the Organization of the Petroleum Exporting Countries (OPEC) in a monthly report said world oil demand would rise by 2.03 million barrels per day (bpd) in 2024, down from last months forecast for growth of 2.11 million bpd...
Separately, the U.S. Energy Information Administration (EIA) on Tuesday said global oil demand is set to grow to a bigger record this year while output growth will be smaller than prior forecasts...
Global oil demand is expected to average around 103.1 million barrels per day this year, the EIA said, some 200,000 bpd higher than its previous forecast of 102.9 million bpd...
Meanwhile, U.S. crude oil and distillate stockpiles were expected to have risen last week, while gasoline inventories likely fell, an extended Reuters poll showed on Tuesday...
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