According to foreign sources on May 7th, the US Energy Information Administration (EIA) lowered its 2024 global oil demand growth forecast by 30,000 barrels per day to 920,000 barrels per day on Tuesday.

In the monthly forecast, EIA has raised its expected oil demand growth for 2025 by 70,000 barrels per day to 1.42 million barrels per day.

The EIA predicts that the WTI crude oil price in 2024 will be $83 per barrel, compared to the previous expectation of $83.78 per barrel; The expected WTI crude oil price in 2025 is $81 per barrel, compared to the previous expectation of $82.48 per barrel. The expected price of Brent crude oil in 2024 is $88 per barrel, compared to the previous expectation of $88.55 per barrel; The Brent crude oil price is expected to be $85 per barrel in 2025, compared to the previous expectation of $86.98 per barrel.

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