OPEC on Monday cut its oil demand growth estimate for a third consecutive month, due to actual consumption data so far this year and expectations of slightly lower demand in some regions. OPEC now expects global oil demand to grow by 1.93 million barrels per day (bpd) in 2024, down by 106,000 bpd compared to last month’s assessment, the cartel’s Monthly Oil Market Report (MOMR) for October showed on Monday. The third consecutive downward revision of global oil demand growth largely reflected “actual data received combined with…
