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المشهد العربي
Bank of America dismisses oil demand decline
According to reports from Bank of America, the current downturn in oil demand is temporary, as the sector is experiencing supply shortages, and some countries, such as China, are shifting to use thermal coal instead of oil in manufacturing. However, experts warn that ongoing high prices could, in the future, effectively destroy demand. Conversely, OPEC has raised its global oil demand growth forecast for 2027 to 2.2 million barrels per day, with an increased growth outlook for August by 260,000 barrels compared to July, while the 2026 forecast has been lowered by 600,000 barrels. Brent crude prices are expected to continue rising between $95 and $120 per barrel if current market conditions persist.
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