OPEC raises forecast for oil demand growth to 2.3 mln bpd in 2023

OPEC raised its forecast for global oil demand growth in 2023 by 100,000 barrels per day (bpd) to 2.3 mln bpd, the organization said in its February report, News.az reports citing TASS.

The figure may average 101.9 mln bpd in absolute terms.

OPEC also anticipates oil consumption in China to rise by 800,000 bpd in 2023 as the country eases coronavirus restrictions.

In the Q1 of 2023, according to the forecast of OPEC, the global demand for oil will grow by 1.9 mln bpd (+200,000 bpd in comparison with the previous estimate).

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