WTI crude oil futures are attempting recovery from a two-week low on Wednesday morning in Asia following a steep decline yesterday after the Organization of the Petroleum Exporting Countries (OPEC) cut its forecast for global oil demand growth in 2024. OPEC stated in a monthly report on Tuesday that world oil demand will rise by 1.82 million barrels per day (bps) in 2024, down from growth of 1.93 million bpd it expected last month. OPEC also lowered its 2025 global demand growth estimate to 1.54 million bpd from 1.64 million bpd, marking the producer group's fourth consecutive downward revision. Besides, strength in dollar and demand concerns from world largest oil consumer is keeping the commodity under pressure. Currently, the counter is quoting at $68.42 per barrel, up half a percent on the day.