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OPEC leaves 2023 world oil demand forecast unchanged

OPEC leaves 2023 world oil demand forecast unchanged

Estimates of world oil demand growth are all over the place for 2023 with ranges from 1 mbpd to 4 mbpd with two major uncertainties in: 1) China and 2) Aviation

How demand unfolds will be the overwhelming determinate of prices in 2023 because Russia continues to find a way to ship supply.

In terms of China, OPEC sees a 510,000 bpd increase, which sounds conservative given the breakneck speed with which they've opened up and got past the worst of covid.

However OPEC's world... Read More

Posted: Jan 17 2023, 13:19
Author Name: forexlive
Views: 102240

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