IEA sees global oil demand above pre-pandemic levels in 2023 at 101.6 mil b/d IEA predicts China-led oil demand growth of 2.2 mil b/d in 2023 versus 1.8 mil b/d in 2022 Non-OPEC+, led by US, will add 1.9 mil b/d of supply in 2022, 1.8 mil b/d in 2023: IEA Global oil supply may struggle to keep up with demand in 2023 as a resurgent China comes when Russia begins to feel the full force of sanctions, the International Energy Agency warned in its latest monthly oil market report June 15.
Despite triple digit oil prices for much of 2022, a Dated Brent benchmark that has remained well above $120/b in recent days and evidence high prices are now hurting demand, the IEA sees oil demand growth of 2.2 million b/d next year compared with […]