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Latest Analysis / Short-term Global Oil Service

World Oil Market Report - Global Oil Market Drivers

Published: 12 December, 2023

Highlights:

  • Market Outlook: A turning point for prices is approaching
  • Demand: Global oil demand set to grow by 1.6 mmb/d in 2024
  • Supply: OPEC+ 1Q 2024 cuts will lead to 37.1 mmb/d of crude output
  • Stocks: OPEC+ cohesion can put an end to recent bearish stocks trends

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