Energy News
OIL AND GAS
 OPEC says Chinese economy pulling down oil demand
OPEC says Chinese economy pulling down oil demand
 by AFP Staff Writers
 Paris (AFP) Aug 12, 2024
 Uncertainty about Chinese economic growth is weighing on global oil demand this year, OPEC said on Monday, leading the producers cartel to slightly revise down the robust projections it made in July.

"The world oil demand growth forecast for 2024 is revised down slightly by 135,00 barrels a day from the previous month's assessment," the Organization of Petroleum Exporting Countries said in a report released Monday.

"It now stands at a healthy 2.1 million barrels a day, well above the historical average of 1.4 million seen prior to the COVID-19 pandemic."

It said the main reason for the revision was "softening expectations for China's oil demand growth in 2024".

It noted that oil prices rose between January and May before slipping from May onwards.

OPEC blamed the declining prices on "concerns about China's economic performance" as well "as easing geopolitical risk premiums and mixed economic indicators."

Related Links
 All About Oil and Gas News at OilGasDaily.com

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
OIL AND GAS
Saudi Aramco quarterly profit dips as output stays low
 Riyadh (AFP) Aug 6, 2024
 Saudi oil giant Aramco on Tuesday reported net profit of $29.07 billion in the second quarter, a slight drop from the same period last year as output remained subdued. The decrease of 3.4 percent "mainly reflects the impact of lower crude oil volumes sold and weakening refining margins", the company said in a statement posted to the Saudi stock exchange. Saudi Arabia, the world's biggest crude exporter, is currently producing roughly nine million barrels per day (bpd), well below its capacity o ... read more
OIL AND GAS
Polymer-Coated Copper Electrodes Enhance Selectivity in CO2 Conversion to Multicarbon Fuels

 A recipe for zero-emissions fuel: Soda cans, seawater, and caffeine

 Activists take aim at bank financing Serbia biomass projects

 Chemists Develop Efficient Method to Convert CO2 into Sustainable Fuel
OIL AND GAS
HKUST Researchers Boost Perovskite Solar Cell Stability with New Chiral Interface

 New Solar Coating Could Significantly Reduce Need for Traditional Solar Farms

 Stacking Molecules Enhances Organic Solar Cell Efficiency

 China's expanding photovoltaic industry eyes global potential
OIL AND GAS
Engineers Develop Cost-Effective Seafloor Testing Device for Offshore Wind Farms
OIL AND GAS
China plans to adopt volume-based emissions reduction targets

 Japan schoolkids wilt in under-insulated classrooms

 Net zero goal critical to Earth's stability: study

 Air New Zealand scraps 2030 emissions targets
OIL AND GAS
SwRI Expands EV Battery Research with Launch of EVESE-II Consortium

 Buffalo develops world's highest-performance superconducting wire segment

 Argentine lithium a boon for some, doom for others

 Thousands protest in Serbian capital against lithium mine
OIL AND GAS
Uganda garbage landslide death toll rises to 30

 Ultrafine particles linked to deaths: Canada study

 NY eco activists turn up heat on Citi over polluting investments

 Secretive Albanian island braces for the Trump treatment
OIL AND GAS
OPEC says Chinese economy pulling down oil demand

 NASA and bp America to collaborate on energy and space technologies

 Saudi Aramco quarterly profit dips as output stays low

 Kazakhstan fines oil firm $28 mn for environmental breaches
OIL AND GAS
NASA Trains Machine Learning Algorithm for Mars Sample Analysis

 A Yellow Jacket on Mars

 One year on 'Mars': Inside NASA's ultra-realistic isolation study

 Has NASA found evidence of ancient life on Mars
Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2026 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.