The oil market is set to swing from a comfortable supply overhang in the first half of 2023 to a deficit in the latter part of the year as the economic rebound in China will push global oil demand to a record high, the International Energy Agency (IEA) said on Wednesday. World oil demand growth is set for a sharp acceleration over the course of this year, from an estimated increase of 710,000 barrels per day (bpd) in the first quarter to a growth of 2.6 million bpd in the fourth quarter of 2023, the IEA said in its Oil Market Report…
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