
OPEC expects global oil demand to rise in 2023 but at a slower pace than 2022, the producer group said in its first forecast for next year, citing still robust economic growth and progress in containing COVID-19 in China.
In a monthly report on Tuesday, the Organization of the Petroleum Exporting Countries (OPEC) said it expects demand to rise by 2.7 million barrels per day (bpd), or 2.7%, in 2023. It left this year's growth forecast unchanged at 3.36 million bpd.