Morgan Stanley Lowers 2024 Oil Demand Forecast Due to China Concerns

26 Aug 2024 CW Team

Morgan Stanley has revised its 2024 oil demand growth outlook, reducing the forecast due to economic challenges in China, the world's second-largest oil consumer. The bank now predicts global oil demand to increase by 1.5 million barrels per day (bpd) in 2024, down from the previous estimate of 1.6 million bpd.

China's sluggish economic recovery, slower industrial output, and weaker-than-expected demand for oil-related products have raised concerns about the country's ability to drive global oil consumption. As China faces ongoing economic headwinds, including a struggling property sector and slower export growth, these factors have significantly influenced the global oil demand outlook.

Morgan Stanley also highlighted the impact of increased energy efficiency and the transition toward cleaner energy alternatives, further dampening the demand for traditional oil. The rise of electric vehicles and renewable energy initiatives are expected to contribute to a slower pace of oil consumption growth in the coming years.

Despite the lowered forecast, Morgan Stanley noted that global oil markets could remain tight in 2024, particularly if production cuts by OPEC+ continue. While demand growth is expected to moderate, supply-side constraints may still support higher oil prices over the next year.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..