OPEC on Tuesday kept its oil demand growth forecast for 2023 mostly unchanged from last month but warned of increased economic uncertainties ahead due to high interest rates and persistent inflation. OPEC sees global oil demand growth at 2.35 million barrels per day (bpd) this year in its closely-watched Monthly Oil Market Report (MOMR) out on Tuesday, essentially unchanged from the 2.
33 million bpd estimate in last month’s report. The overwhelming part of the growth will come from non-OECD economies, where oil demand is set to rise…OPEC Warns Of Growing Economic Uncertainty But Reaffirms Oil Demand Outlook
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