{"id":15809,"date":"2024-11-12T16:59:11","date_gmt":"2024-11-12T21:59:11","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=15809"},"modified":"2024-11-12T17:00:54","modified_gmt":"2024-11-12T22:00:54","slug":"petroleum-daily-report-11-12-2024","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-11-12-2024\/","title":{"rendered":"Petroleum Daily Report 11-12-2024"},"content":{"rendered":"\n<p>Oil prices held near a two-week low on Tuesday after a 5% drop over two sessions, pressured by OPEC\u2019s lowered demand forecast, a strong U.S. dollar, and underwhelming Chinese stimulus measures. Brent rose 6 cents to $71.89, and U.S. WTI gained 8 cents to $68.12, stabilizing after Monday\u2019s lows.<\/p>\n\n\n\n<p>OPEC cut its 2024 demand growth forecast to 1.82 million barrels per day (bpd) and its 2025 estimate to 1.54 million bpd. China\u2019s demand remains weak despite recent stimulus, and Trump\u2019s potential tariffs on China could further limit oil demand. Additionally, a strong dollar has made oil more expensive globally, further dampening demand. <\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/11\/Petroleum_Daily11122024.pdf\" download>On Mobile? Click here to download the PDF<\/a><\/h3>\n\n\n\n<embed src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/11\/Petroleum_Daily11122024.pdf\" type=\"application\/pdf\" width=\"100%\" height=\"960\" title=\"Crude Oil Report\" alt=\"\">\n\n\n\n<figure class=\"wp-block-image size-full\">\r\n\t<img decoding=\"async\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/03\/Stampede-2026.jpg\" alt=\"Stampede\" class=\"wp-image-11405\"\/>\r\n<\/figure>\r\n<font color=\"black\">\r\n\t<ul>\r\n\t\t<li>Where: Calgary<\/li>\r\n\t\t<li>Attending: David Cohen (954-729-4774), Curtis Chandler(239-405-3365), Cyndi Popov (403-402-5043)   <\/li>\r\n\t<\/ul>\r\n<\/font>\r\n\r\n<figure class=\"wp-block-image size-full\">\r\n\t<img decoding=\"async\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/03\/Mars-Lake-Geneva-2026.jpg\" alt=\"swars\" class=\"wp-image-11405\"\/>\r\n<\/figure>\r\n<font color=\"black\">\r\n\t<ul>\r\n\t\t<li>Where: Grand Geneva Resor<\/li>\r\n\t\t<li>Attending: Brian Baker (239.297.4519) <\/li>\r\n\t\t<li><a href=\"https:\/\/www.mwrailshippers.com\/event\/2026-summer-meeting\/\" target=\"_blank\" rel=\"noreferrer noopener\">Conference Website<\/a><\/li>\r\n\t<\/ul>\r\n<\/font>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices held near a two-week low on Tuesday after a 5% drop over two sessions, pressured by OPEC\u2019s lowered demand forecast, a strong U.S. dollar, and underwhelming Chinese stimulus measures. Brent rose 6 cents to $71.89, and U.S. WTI gained 8 cents to $68.12, stabilizing after Monday\u2019s lows. OPEC cut its 2024 demand growth [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15346,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-15809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The PFL Petroleum Markets Report for November 12, 2024<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-11-12-2024\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"guida\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" 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