leading design oil press equipment in line global market demand

   
leading design oil press equipment in line global market demand
                                               
                                               
                                               
                                               
  • leading design oil press equipment in line global market demand
  • Will global oil demand rise in 1Q24?
  • Global oil demand is forecast to rise by a higher-than-expected 1.7 mb/d in 1Q24 on an improved outlook for the United States and increased bunkering.
  • Will non-OPEC+ oil demand increase in 2023?
  • The latter¡¯s oil demand growth slows from 1.7 mb/d in 2023 to 620 kb/d in 2024, or from roughly three-quarters to half of the global total, under the gathering weight of a challenging economic environment and slower expansion in its petrochemical sector. As in 2023, non-OPEC+ oil supply growth will eclipse the oil demand expansion by some margin.
  • Will world oil demand grow in 2024?
  • World oil demand growth is now forecast at 1.3 mb/d in 2024, down sharply from last year¡¯s 2.3 mb/d expansion. The slowdown in growth, already apparent in recent data, means that oil consumption reverts towards its historical trend after several years of volatility from the post-pandemic rebound.
  • Will oil tankers tighten the Atlantic basin market?
  • With oil tankers taking the longer route around Africa more oil was kept on water, further tightening the Atlantic Basin market and sending crude¡¯s forward price structure deeper into backwardation. At the time of writing, Brent was trading at $83/bbl.