Standard Chartered: Oil Demand Growth Will Decelerate in the Coming Months

On Wednesday, OPEC released its latest Monthly Oil Market Report (MOMR) wherein it stuck to its forecast for relatively strong growth in global oil demand in 2024 and 2025, citing resilient economic growth and a strong rebound in air travel in the summer months. OPEC sees global oil demand rising by 2.25 million barrels per day (bpd) in 2024 and by 1.85 million bpd in 2025, virtually unchanged from its January forecasts. Unfortunately, other energy agencies have not been quite as consistent, with views on 2024 global oil demand growth…