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OPEC Sticks To 2024 Oil Demand Growth Forecast But Trims Q1 View

by THEFUTURE.TEAM

June 12, 2024

On Tuesday, OPEC stuck to its forecast for relatively strong growth in global oil demand in 2024, despite lower-than-expected use in the first quarter, saying travel and tourism would support consumption in the year’s second half.

The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise by 2.25 million barrels per day (bpd) in 2024 and by 1.85 million bpd in 2025. Both forecasts were unchanged from last month.

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OPEC’s report is the latest to flag robust oil market conditions heading into the second half of the year. Oil rose 3 per cent on Monday after Goldman Sachs said transport demand would push the market into a third-quarter deficit.

OPEC said steady global economic growth has continued in the first half of 2024 and forecast that world oil demand would rise by 2.3 million bpd in the second half.

“Globally, the services sector maintains a stable momentum,” OPEC said.

“It is projected to be the main contributor to the economic growth dynamic in the second half of 2024, particularly supported by travel and tourism, with a consequent positive impact on oil demand.”

OPEC+, which groups OPEC and allies such as Russia, has implemented a series of output cuts since late 2022 to support the market. The group agreed on June 2 to extend the latest cut of 2.2 million bpd until the end of September and gradually phase it out from October.

Oil was steady after the OPEC report was released with Brent crude edging down towards $81 a barrel.

The International Energy Agency, which represents industrialised countries, expects much lower demand growth than OPEC of 1.1 million bpd and is scheduled to provide an update on its view on Wednesday.

Goldman Sachs said on Monday that solid summer transport demand will push the oil market into a third-quarter deficit of 1.3 million bpd. Figures in OPEC’s report imply an even larger gap between supply and demand.

OPEC projects demand for OPEC+ crude, or crude from OPEC plus the allied countries working with it, at 43.6 million bpd in the third quarter, much more than the group is currently pumping, according to the report.

The OPEC+ group pumped 40.92 million bpd in May, the report said, citing figures from secondary sources. That marked a drop of 123,000 bpd from April with declines in Russia and Kazakhstan offsetting increases in Nigeria and smaller African producers.

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Elevating Infant Nutrition: Nara Organics Unveils Premium Organic Formula

by THEFUTURE.TEAM

July 30, 2025

The Origins Of A Vision

When Esther Hallam welcomed her daughter Nara into the world, she immediately confronted a formidable challenge: identifying a trustworthy, high-quality organic infant formula. In a U.S. market dominated by cost-cutting practices—such as the use of skim milk supplemented with oils to meet nutritional standards—Hallam observed a disconnect between established availability and uncompromised quality. Research linking corn syrup to obesity and palm oil to reduced calcium absorption only reinforced her resolve to seek a safer alternative.

Redefining Industry Standards

Frustrated by the limitations of existing options, Hallam devoted seven years to developing an organic, whole-milk formula with the expertise of leading scientists and pediatric nutritionists. Nara Organics distinguishes itself by offering the highest percentage of milk fat of any formula on the U.S. market and a significantly reduced reliance on plant-based oils. The carefully selected blend of organic sunflower, coconut, and rapeseed oils not only meets nutritional needs but also minimizes potential health risks inherent to additives like palm oil, soy, and corn syrup.

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Manufacturing Excellence In Germany

Rather than manufacturing domestically—a decision influenced by previous concerns over Cronobacter contamination in American facilities—Nara Organics leverages the advanced, oxygen-controlled production environment of a German facility, widely regarded as the birthplace of powdered infant formula. Chief Marketing Officer Meika Hollender detailed that their unique manufacturing process, which minimizes oxygen exposure during can sealing, substantially extends shelf life and preserves formula integrity, setting a new standard in infant nutrition.

Strategic Investment And Market Impact

Backed by $32 million from prominent investors including AlleyCorp, BBG Ventures, Corazon Ventures, Gingerbread Capital, and Torch Capital, Nara Organics has also garnered support from high-profile celebrity investors such as Serena Williams, Gina Rodriguez, and Nicky Hilton. This robust investment positions the company at the vanguard of an organic infant formula market projected to grow from $20.7 billion in 2023 to $37 billion by 2032.

Enhancing Consumer Accessibility And Community Commitment

Nara Organics is available for purchase directly via its website, subscription models, and a dedicated mobile app that assists parents in tracking essential aspects of infant care. To underscore its commitment to community well-being, the company is donating over 1,400 cans of formula to the Good+ Foundation, which strives to alleviate multi-generational poverty by providing essential services to under-resourced families.

By merging state-of-the-art production with a commitment to organic, high-quality ingredients, Nara Organics is poised to redefine the benchmarks of infant nutrition in a competitive, evolving market.