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Energy and Environment

OPEC+ lowers global oil demand forecast for third consecutive month

By Callie Patteson
Published
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OPEC+ has once again lowered this year’s forecast for oil demand growth worldwide, causing crude prices to fall by nearly 2%.

The oil-producing bloc released a monthly oil market report Monday showing global demand growth dropping for the third consecutive month. Previously, the forecast had been unchanged since July 2023, according to Reuters.

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Energy and Environment Iraq Kazakhstan Oil OPEC Russia