What's Hot: IEA and OPEC demand forecasts continue to remain a gulf apart

Oil demand growth is weakening according to IEA

The International Energy Agency (IEA)’s monthly report points to oil demand growth having weakened in Q4 2023 (from 2.8 mb/d in 3Q23 to 1.8 mb/d in 4Q23) due to China. China’s ability to maintain last year’s growth is under question as the post-COVID reopening boost has clearly passed. The IEA expects a 1.2 mb/d demand growth in 2024, compared with 2.3 mb/d last year.

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