The article discusses the potential bearish outlook for oil demand in 2024 due to several factors. Firstly, OPEC’s plans to increase production could lead to an oversupply of oil, putting downward pressure on prices. Additionally, China’s economic recovery is expected to be slower than anticipated, reducing its oil demand. Notably, the rise of AI data centers is highlighted as a significant energy consumer, potentially offsetting some of the demand from traditional sectors like transportation. However, the article suggests that the impact of AI data centers on oil demand may be overstated, as many are powered by renewable energy sources. Overall, the article paints a bearish picture for oil demand in 2024, with OPEC supply increases, a sluggish Chinese economy, and the uncertain impact of AI data centers contributing to potential oversupply and lower prices.