Oil Tanks 3% on Weak Demand: Lowest Level Since 2021
Tuesday, 10 September 2024, 11:14
Market Response to OPEC's Demand Forecast
Oil resumed its downward trend on Tuesday, tanking more than 3% after the oil alliance OPEC lowered its demand growth forecast for 2024 and 2025. West Texas Intermediate (CL=F) slid more than...
Implications for Future Oil Prices
This adjustment has significant implications for future oil prices as weak demand casts doubt on market stability. Investors are advised to stay informed on these developments.
- Weak Demand
- OPEC Forecasts
- Price Volatility
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.