12 Oct, 23

OPEC Leaves Oil Demand Growth Forecast Unchanged Despite Economic Uncertainty

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Global oil demand is set to rise by 2.4 million barrels per day (bpd) this year and by another 2.2 million bpd next year amid improving Chinese economy, OPEC said on Thursday, leaving its demand forecast for both 2023 and 2024 unchanged, despite fears of slowing economies and demand destruction.   Developing economies, led by China, will account for most of this year’s oil demand growth, OPEC said in its Monthly Oil Market Report (MOMR) published today. World oil demand is set to reach a record average of 102.1 million bpd in 2023,…

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