24-year crude oil demand forecast revised downward due to Chinese deceleration = Morgan Stanley

2024/8/26 2:20 PM GMT+9 (some excerpts)

US financial giant Morgan Stanley (MS.N) revised its global crude oil demand forecast for 2024 downward from the conventional 1.2 million barrels per day increase compared to the previous year to an increase of 1.1 million barrels per day. The reasons were a slowdown in China's economic growth, expansion in the use of electric vehicles (EVs), and an increase in liquefied natural gas (LNG) trucks in China.
Also, the North Sea Brent crude oil price forecast for the 4th quarter of '24 was lowered from the average forecast of 1 barrel = 85 dollars to 80 dollars.