OPEC holds 2023 oil demand forecast steady, warns world economy faces rising uncertainty
OPEC left its forecast for 2023 global oil demand growth steady for a fourth month on Tuesday, though the producer group warned that the world economy faced rising uncertainty and slower growth in the second half of the year.
“Moreover, it is still unclear as to how and when the geopolitical conflict in Eastern Europe might be resolved,” it added, referring to Ukraine. The Brent crude benchmark was little changed after the report was released, maintaining a 2.1 per cent gain to trade above $73 a barrel. Potential upside factors, other than a dop in inflation, include an even stronger than previously expected economic rebound in China and the United States being able to maintain its first-half momentum, OPEC said.
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