OPEC MOMR (October): 2024 global oil demand growth revised down by 106k BPD to 1.9mln BPD
SUPPLY:
- Non-DoC liquids supply (i.e. liquids supply from countries not participating in the DoC) is expected to grow by 1.2mln BPD Y/Y (unchanged from last month’s assessment).
- The main growth drivers are expected to be the US, Canada, Brazil and China.
- Natural gas liquids (NGLs) and non-conventional liquids from countries participating in the DoC is forecast to grow by about 0.1mln BPD Y/Y, to average 8.3mln BPD in 2024
- NGLs and non-conventional liquids from countries participating in the DoC is forecast to grow by about 70k BPD Y/Y, to reach 8.4mln BPD in 2025.
- Crude oil production by the countries participating in the DoC decreased +0.56mln BPD in September compared with the previous month, averaging about 40.1mln BPD, according to secondary sources.
14 Oct 2024 - 12:25- EnergyGeopolitical- Source: OPEC
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