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Bank of America: Oil Demand Weakens Amid Global Surplus

Oil demand is slowing, creating downward pressure on prices amid surging inventories, BofA warns; potential rebound hinges on OPEC+ cuts and demand rise.

by Terry Bingman
Mon, Jun 17, 2024 8:46pm
in Economy
• 2 mins read
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Bank of America: Oil Demand Weakens Amid Global Surplus | FinOracle

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Bank of America: Oil Demand on the Rocks

Oil prices are facing downward pressure due to a surge in global inventories and slowing demand growth, according to a note from Bank of America on Monday.

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