Global oil demand is expected to rise by 1.7 million barrels per day (bpd) this year compared to 2022, the International Energy Agency (IEA) said on Wednesday, revising down by 100,000 bpd its demand growth estimate on the back of high prices weighing on consumption. “Higher prices and a deteriorating economic environment have started to take their toll on oil demand, but strong power generation use and a recovery in China are providing a partial offset,” the agency said in its closely-watched Oil Market Report (OMR) published today.…
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