World oil demand will rise more than 2% to a record high of 101.6 million barrels per day (bpd) in 2023, the International Energy Agency said on Wednesday, although sky-high oil prices and weakening economic forecasts dimmed the future outlook. The Paris-based IEA also said in its monthly report supply was being constrained because of sanctions on Russia over its invasion of Ukraine. “Economic fears persist, as various international institutions have recently released downbeat outlooks,” the IEA said, forecasting demand would rise 2.2 million bpd, or 2.2%, in 2023 compared to 2022 and would exceed pre-pandemic levels. “Similarly, tightening central bank policy, the impact of a soaring U.S. dollar and rising interest rates on the purchasing power of emerging economies […]