The International Energy Agency (IEA) sees an improvement in the forecast in its latest monthly report
- The economic outlook has improved over the past few months amid a cautious shift in US Federal Reserve policy.
- The fall in oil prices in the last quarter of 2023 is considered an additional wind.
- If the OPEC cuts are canceled, strong growth from non-OPEC producers could lead to a significant surplus.
- With the exception of significant disruptions in oil flows, the market seems to have a reasonably good supply in 2024.
- The forecast for the growth of global oil demand in 2024 increased by 180 thousand barrels per day to 1.24 million barrels per day.
