Global oil demand is set to increase by 2 million barrels per day (bpd) this year, pushed up by growth in Chinese consumption after the reopening, the International Energy Agency (IEA) said on Wednesday as it raised its 2023 demand growth estimate by 100,000 bpd from last month’s forecast. This year, world oil demand is set to average a record 101.
9 million bpd, up by 2 million bpd from 2022, the IEA said in its closely-watched Oil Market Report today. The increase is 100,000 bpd higher than the 1.9 million bpd rise the agency expected at…The IEA Expects Global Oil Demand Hit A Record High In 2023
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