Opec Slashes 2025 Global demand growth forecast on Trump Tariff Impact: Where is crude oil going now? | Einsmark news

On Monday, OPEC reduced its 2025 global forecasts for oil demand growth, referring to the impact of data received for the first quarter, and the US trading rates, and also reduced its global economic growth forecasts for this year and next. The organization of the petroleum exporting countries, in a monthly report, said the demand for oil oil will rise by 1.30 million barrels per day (BPD) in 2025, by 150,000 pk lower than last month’s forecast. OPEC has also lowered its forecasts for global economic growth this year and next year. “The global economy showed a steady growth trend at the beginning of the year, but the recent trade-related dynamics brought a higher uncertainty to the short-term global economic growth outlook,” OPEC said in the report. OPEC’s view of oil demand is still at the higher end of the industry forecasts and it expects oil consumption to continue to rise for years, as opposed to the international energy agency, which reaches the demand for a peak as the world is transferred to cleaner fuel. Oil prices rose by more than 1% on Monday after US exclusions on some rates and Chinese data showed that a sharp setback in rough imports in March, but the profits were limited by concerns that the trade war between the United States and China could weaken the global economic growth and the demand for fuel fuel. First published: 14 Apr 2025, 18:30 IST