OPEC Remains Cautious Despite Bullish Chinese Demand Forecast ...Middle East

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OPEC Remains Cautious Despite Bullish Chinese Demand Forecast
source : OILPRICE ( Middle East ) () 38
OPEC increased its projection for China’s oil demand growth in 2023 due to the country's COVID-19 restrictions being relaxed.  OPEC forecast that global demand will rise by 2.32 million barrels per day (bpd) in 2023, equal to a 2.3% increase.  The bullish news was overshadowed by the collapse of Silicon Valley Bank, leading investors to fear another financial crisis may be on the horizon.  Oil prices fell after the report's release, with Brent falling below $80 per barrel.  OPEC noted in the report…

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