OPEC Holds Oil-Demand Forecast Steady, Says Production Fell in January

Core Insights - Oil demand is projected to rise by 1.34 million barrels a day next year, driven by easing inflation, fiscal measures, and improving global trade [1] Industry Summary - The increase in oil demand is attributed to several factors, including easing inflation, which may enhance consumer spending and economic activity [1] - Fiscal measures implemented by governments are expected to support economic growth, further contributing to the rise in oil demand [1] - Improving global trade conditions are anticipated to bolster oil consumption as international commerce picks up [1]