Oil demand to surge this year – trader ...News

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Oil demand to surge this year – trader
An increasing number of power plants will be switching from gas to oil, Pierre Andurand says Global oil demand may rise sharply in 2023 if the world scraps the Covid-19 restrictions and lockdowns, says legendary hedge fund manager of Andurand Capital Management, Pierre Andurand. According to the investor, the demand for crude could surge by an estimated 4 million barrels, or 4%, this year. “What would a full China reopening mean for world oil demand growth? If demand came back to trend in 2023, that would mean a demand growth of 4.6 million barrels a day vs 2022, way above most analysts’ expectations of 1-2 mbd...

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