OPEC cut its global oil demand growth forecast to 1.9 million bpd for 2024 and 1.6 million bpd for 2025, citing slower growth in China. This remains above IEA's estimates of 900,000 bpd for 2024. We expect oil prices to stay pressured, closing the year near $70 per barrel if tensions in the Middle East remain stable. Meanwhile, Saudi inflation hit 1.7% in September due to rising housing costs, while Jordan’s eased to 1%. We forecast 1.7% inflation for both countries in 2024.

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MENA in a minute with @Scott Livermore

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