For the first time since the beginning of the year, OPEC revised its forecasts for oil demand growth in 2025 and 2026, reducing them by 150,000 b/d to 1.3 million b/d and 1.28 million b/d, respectively. Such a move is linked to uncertainty in the global economy due to the introduction of new US tariffs and weak oil consumption by OECD countries in the first quarter. According to the report, global demand will amount to 104.16 million b/d in the first quarter (against 104.25 million b/d in the March estimate), 104.25 million b/d in the second quarter (104.45 million b/d), 105.35 million b/d in the third quarter, and 106.41 million b/d in the fourth quarter. million b/d (previously 106.75 million b/d). The forecast for countries outside the OECD for 2025 has been reduced by 90 thousand b/d to 1.25 million b/d, and for OECD countries by 60 thousand b/d to 40 thousand b/d. February commercial oil reserves in the OECD countries decreased by 16.1 million barrels to 2.746 billion barrels, which is 29.9 million barrels lower than last year and 71 million barrels less than the five-year average. At the same time, crude oil reserves increased by 11.1 million barrels to 1.322 billion barrels, while reserves of petroleum products decreased by 27.3 million barrels to 1.425 billion barrels.
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