Oil Prices Plunge Over 3% as OPEC Cuts Demand Forecast 📉
Oil prices drop to their lowest since December 2021 after OPEC revises down demand growth projections, prompting Wall Street to lower price targets amid economic concerns.
Benzinga
1.6K views • Sep 11, 2024
About this video
Oil prices fell over 3% on Tuesday, marking the lowest levels since December 2021. OPEC's monthly report indicates a reduced forecast for oil demand growth in 2024 and a slight decrease for 2025 compared to previous estimates. China’s housing crisis and shift towards natural gas, driven by a housing crisis, contributed to the downward revision of oil demand forecasts. Analysts have revised their price targets downward amid broader economic concerns in the US and Europe.
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1.6K
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Sep 11, 2024
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