J.P. Morgan sees oil demand growth at its slowest in nine months in December
The research firm, however, said despite undershooting expectations in the last month of 2023, global oil demand growth was in line with yearly expectations. In Europe, most countries reported a decline in oil demand due to continued weakness in industrial fuels, LPG and lower seasonal uptake in heating oil due to a milder winter. China's demand shows the country saw an average of 16.4 million barrels a day in the last quarter of 2023 - 100,000 barrels a day above J.P. Morgan estimates.
