According to the OPEC, Global oil demand in 2025 is expected to grow by 1.3 mb/d, y-o-y, unchanged from last month’s assessment. Some minor adjustments were made in 1Q25, mainly due to the receipt of actual data. In the OECD, oil demand is expected to expand by about 0.1 mb/d, while non-OECD demand is forecast to increase by about 1.2 mb/d in 2025.
A comparison of crude oil prices between May 12 and May 13, 2025, shows the following trends:
- The price of WTI crude rose from $61,95 to $63,66 per barrel.
- Brent crude increased from $64,94 to 6$6,65 per barrel.
It is also worth noting that the daily price of the OPEC basket stood at $61.80 per barrel on May 2, 2025.
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