Saudi Arabia is the number two oil exporter to China behind Russia and holds stakes in some Chinese refiners
The organisation said oil demand will rise by 2.11 million barrels per day (bpd) in 2024, down from growth of 2.25 million
Amin Nasser said he expects global oil demand of 104.7 million bpd in 2024
OPEC+ is currently cutting output by about 5.7 per cent of global demand, in a series of steps agreed since late 2022
OPEC’s report points to an oil supply deficit in coming months
A longer period of oil demand growth could boost the incomes of producers like the members of OPEC and allies, known as OPEC+
OPEC sounded an upbeat tone on the economic outlook as well as future oil demand