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International Energy expresses its expectations regarding the oil markets in 2024... Will prices remain under control?
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Economy News - Baghdad
The International Energy Agency expects global oil markets to remain in a comfortable position in 2024, as new supplies meet demand, keeping prices under control in the absence of geopolitical unrest or major climate events.
The agency's executive director, Fatih Birol, expected global consumption to increase by 1.2 million to 1.3 million barrels per day in 2024, a much weaker pace than last year as China's economic growth slows.
This will be offset by increased production by the United States, Canada and Brazil.
Birol noted that OPEC+ has generally shown good discipline in its compliance with production cuts, but warned against any moves that would boost fuel prices and reignite inflation.
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Added 02/14/2024 - 12:40 PM
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Economy News - Baghdad
The International Energy Agency expects global oil markets to remain in a comfortable position in 2024, as new supplies meet demand, keeping prices under control in the absence of geopolitical unrest or major climate events.
The agency's executive director, Fatih Birol, expected global consumption to increase by 1.2 million to 1.3 million barrels per day in 2024, a much weaker pace than last year as China's economic growth slows.
This will be offset by increased production by the United States, Canada and Brazil.
Birol noted that OPEC+ has generally shown good discipline in its compliance with production cuts, but warned against any moves that would boost fuel prices and reignite inflation.
Views 33
Added 02/14/2024 - 12:40 PM
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