Oil prices could rise further this year, but 2024 demand to slow sharply: IEA

LONDON, Aug 11 (Reuters) – OPEC+ supply cuts could erode oil inventories in the rest of this year, potentially driving prices even higher, before economic headwinds limit global demand growth in 2024, the International Energy Agency (IEA) said on Friday.

OPEC leaves forecasts for global oil-demand growth unchanged

The Organization of the Petroleum Exporting Countries on Thursday left its forecasts for growth in 2023 and 2024 world oil demand unchanged. In its monthly report, OPEC said it expects demand this year to grow by 2.4 million barrels a day, followed by 2.2 million barrels a day, or mbd, in 2022. 

OPEC says oil demand will hit 110 million barrels per day in 2045

Global oil demand will rise to 110 million barrels a day in about 20 years, pushing the world’s energy demand up by 23%, said OPEC on Monday.

Oil prices rise after Saudi Arabia pledges more voluntary production cuts

Oil prices rose following OPEC kingpin Saudi Arabia’s decision to cut production by another million barrels per day.

OPEC+ unlikely to deepen oil supply cuts at June 4 meeting, sources say

OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting on Sunday despite a fall in oil prices toward $70 per barrel, four sources from the alliance told Reuters.

Saudi oil minister warns market speculators to ‘watch out’ ahead of OPEC+ meeting

Saudi oil minister Prince Abdulaziz bin Salman on Tuesday told market speculators to “watch out,” reiterating his warning that they could face pain ahead.