Summary
This flash note outlines the 2024 oil market scenario, highlighting the peak demand for fossil fuels, the divergence in oil consumption between advanced and emerging economies, and the impact of the energy transition. Key projections include a 1.5 mbd increase in global oil demand, driven by growth in developing economies, while advanced economies face contraction. The report also discusses the need for OPEC+ to maintain production cuts and the potential risks affecting oil prices.
