OPEC forecasts slower oil demand growth in 2023 ...Kuwait

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OPEC forecasts slower oil demand growth in 2023
OPEC forecast that world oil demand will rise further next year, but at a slightly slower rate than in 2022, with consumption supported by better containment of the Covid-19 pandemic and still-robust global economic growth. In a monthly report, the Organization of the Petroleum Exporting Countries (OPEC) said it expects world oil demand to rise by 2.7 million barrels per day (bpd) in 2023. This year's growth forecast was left unchanged at 3.36 million bpd. Oil use has rebounded from the pandemic-induced slump in 2020 and is set to exceed 2019 levels this year even as prices hit record highs. However, high crude prices and Chinese coronavirus outbreaks have eaten into 2

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