OPEC on Tuesday cut its forecast for global oil demand growth in 2024 reflecting data received so far this year and also trimmed its expectation for next year, marking the producer group's second consecutive downward revision.

OPEC said in a monthly report that world oil demand will rise by 2.03 million barrels per day in 2024, down from growth of 2.11 million bpd it expected last month

A rapid slowdown in Chinese oil-demand growth is driving down global consumption, reinforcing expectations that demand will peak by the end of the decade, the IEA said.

Global oil demand will rise less than previously thought this year, led by weakness in China, the International Energy Agency (IEA) said on Thursday, bolstering its view that consumption is heading towards a plateau this decade.

Global oil demand growth is “slowing sharply” as China’s economy cools, pushing prices to a three-year low, the International Energy Agency said.

Global oil demand growth is "slowing sharply" as China's economy cools, pushing prices to a three-year low, the International Energy Agency said. World consumption increased by 800,000 barrels a day in the first half of the year,