Reply To: AI Swinging for The Fences – Traders Market Weekly

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Truman
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MOMR Highlights

Demand growth unchanged for 2024 & 2025
Oil demand growth in mbpd: 2023 base raised by 0.04 2024 unchanged at 2.25 2025 unchanged at 1.85.
Non-OPEC supply growth: 2023 base raised by 0.30 2024 cut by 0.15 to 1.34 2025 unchanged at 1.27.
Total Oil + Products stocks at 12/31 159mmb below 2015-19 ave, slightly more vs 151mmb below at 11/30
OPEC crude production fell by 350kbpd m/m to 26.342mbpd in January based on secondary sources
Russia’s liquids production in December is estimated to fall by about 90 tb/d, m-o-m, to average 10.8 mb/d. This includes 9.5 mb/d of crude oil and 1.3 mb/d of NGLs and condensate.
Saudi Arabia told OPEC its crude production was at 8.956mbpd in January versus 8.944mbpd in December

OPEC Monthly Oil Market Report February 2024