Analysts at Standard Chartered no longer expect 2023 average global oil demand to surpass 2019’s all-time high. Analysts at Standard Chartered have announced in a new report that they no longer expect 2023 average global oil demand to surpass 2019’s all-time high. In the report, which was sent to Rigzone, the analysts revealed that their model implies demand will fall 0.2 million barrels per day short. They outlined that their forecast for 2023 oil demand growth is now 1.26 million barrels per day, which they pointed out is about 900,000 barrels per day lower than it stood at the start of 2022. “We published revised oil market balances following the OPEC+ decision and a downgrade to our U.S. GDP forecast in an earlier report,” the analysts stated in the report. “All three of the main oil balance forecasting agencies are due to publish their October reports this week and […]