- Analytics
- News and Tools
- Market News
- OPEC lowers demand forecast again – Commerzbank
OPEC lowers demand forecast again – Commerzbank
OPEC has revised its forecast for oil demand downwards for the fifth month in a row, Commerzbank’s commodity analyst Carsten Fritsch notes.
OPEC expects oil market to remain undersupplied
“OPEC now expects an increase of 1.6 million barrels per day this year and 1.5 million barrels per day next year.”
“In July, the corresponding forecasts were still a good 600 thousand and 400 thousand barrels per day higher. The forecast reductions in recent months represent a gradual adjustment to reality. However, the current forecasts are still far too optimistic, meaning that further downward revisions are likely to follow in the coming months.”
“Despite the lowered demand forecast, the oil market would continue to be undersupplied in the coming year, even if OPEC+ were to gradually increase the oil supply from April as planned. OPEC+ does not appear to believe the forecast, otherwise the decision to further postpone the planned production increases would not have been necessary.”
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
