Despite concerns about economic growth with the ongoing interest rate hikes, global oil demand is still set for a record high 101.9 million barrels per day (bpd) this year, driven by a resurgent Chinese consumption, the International Energy Agency (IEA) said on Friday. Buoyed by a resurgent China, world oil demand is set for growth of 2 million bpd this year, to hit a record 101.
9 million bpd, the IEA said in its Oil Market Report for April today. The estimate remains unchanged from last month’s report. Yet, there will be a widening…IEA Sees Global Oil Demand Hitting Record High In 2023
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