• 3 months ago
Oil prices fell over 3% on Tuesday, marking the lowest levels since December 2021. OPEC's monthly report indicates a reduced forecast for oil demand growth in 2024 and a slight decrease for 2025 compared to previous estimates. China’s housing crisis and shift towards natural gas, driven by a housing crisis, contributed to the downward revision of oil demand forecasts. Analysts have revised their price targets downward amid broader economic concerns in the US and Europe.

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00:00It's Benzinga, and here's what's on the block.
00:03Oil prices fell over 3% on Tuesday, marking the lowest level since December 2021.
00:08OPEC's monthly report indicates a reduced forecast for oil demand growth in 2024 and
00:14a slight decrease for 2025 compared to previous estimates.
00:18China's housing crisis and shift toward natural gas contributed to the downward revision of
00:22oil demand forecasts.
00:24Analysts have revised their price targets downward amid broader economic concerns in
00:28the U.S. and Europe.
00:29For all things money, visit Benzinga.com.

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