The body’s monthly report indicates a 2025 growth at 1.7 million barrels per day (mbbl/d), slightly below this year’s figure.

For the second consecutive month, OPEC slightly cut its forecast for 2024 global crude oil demand in its September Oil Market Report published Tuesday.

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.

U.S. and international crude oil futures skidded to their lowest levels in more than a year after the influential oil producing group cut its 2024 outlook, citing weakness in Chinese demand.

OPEC has revised its forecast for global oil demand growth this year, lowering it to approximately two million barrels per day. According to its late

OPEC sees demand as healthy with strong demand for air travel and car transportation, along with industrial, construction and agricultural activities in non-OECD countries.

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.

OPEC slightly cut its forecast for oil-demand growth after delaying its planned output hikes last week in a bid to support sinking prices.

The difference between the forecasts of OPEC and IEA, amounting to 0.93 million bpd, underscores the widening divide between these key institutions

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