The Globe and Mail reports in its Tuesday edition that OPEC cut its forecast for global oil-demand growth in 2024 on Monday. A Reuters dispatch to The Globe reports that the Organization of the Petroleum Exporting Countries stated in a monthly report that world oil demand is expected to increase by 2.11 million barrels a day in 2024, down from the previously anticipated growth of 2.25 million b/d. OPEC said: "This slight revision reflects actual data received for the first quarter of 2024 and in some cases for the second quarter, as well as softening expectations for China's oil demand growth in 2024. Despite the slow start to the summer driving season compared to the previous year, transport fuel demand is expected to remain solid due to healthy road and air mobility." This is the first reduction in OPEC's 2024 forecast since it was first made in July, 2023. There is a wider-than-usual split between forecasters on the strength of oil-demand growth in 2024 owing to differences over China and more broadly over the pace of the world's transition to cleaner fuels. The reduction still leaves OPEC at the top end of industry estimates. Oil was steady after the report was released, trading above $80 (U.S.) a barrel.