For the fourth month in a row, the oil cartel Opec is lowering its forecast for global oil demand, both for this year and next year. The reason is primarily lower pressure in the Chinese economy.
This year, oil demand is expected to increase by 1.8 million barrels per day, or almost two percent, compared to 2023. This is a decrease of 107,000 barrels from the previous forecast.
So far this year, the oil price on the world market has fallen by around six percent.
