Short-term global oil demand forecasts continue to diverge reflecting growing uncertainty. OPEC projects 2.2 mb/d oil demand growth this year. The IEA and EIA, in contrast, predict 1 mb/d and 1.1 mb/d demand growth for 2024, respectively. The demand growth forecasts of the three organizations for 2025 range from 1.0 mb/d to 1.8 mb/d. Supply Non-DoC oil supply growth is forecasted to slow slightly from ~2.7 mb/d in 2023 to around 1.4-1.7 mb/d in 2024. The range between the three organizations
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