OPEC's Robust Demand Projections Keep Oil Prices Steady

24.06.11 News

Oil prices remained stable as OPEC upheld its strong demand forecasts for 2024 and 2025, anticipating steady global economic growth. Despite a recent sell-off due to OPEC+’s decision to increase production later this year, crude oil rebounded, with U.S. crude recording its best day since February 8. Current energy prices show minor changes, with West Texas Intermediate at $77.63 and Brent at $81.54. OPEC projects oil demand to grow by 2.2 million barrels per day in 2024 and 1.8 million bpd in 2025, driven by stable economic growth and increased travel and tourism.

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