IEA trims oil demand forecast for the first time this year on ‘persistent’ economic headwinds
The world’s leading energy watchdog said global oil demand is now on track to climb by 2.2 million barrels per day in 2023 to reach an average of 102.1 million barrels per day.
China is set to account for 70% of this demand growth increase, the IEA said.
“Persistent macroeconomic headwinds, apparent in a deepening manufacturing slump, have led us to revise our 2023 growth estimate lower for the first time this year,” the agency added in its latest monthly oil market report. $Occidental Petroleum (OXY.US)$ $Imperial Petroleum (IMPP.US)$ $Exxon Mobil (XOM.US)$
China is set to account for 70% of this demand growth increase, the IEA said.
“Persistent macroeconomic headwinds, apparent in a deepening manufacturing slump, have led us to revise our 2023 growth estimate lower for the first time this year,” the agency added in its latest monthly oil market report. $Occidental Petroleum (OXY.US)$ $Imperial Petroleum (IMPP.US)$ $Exxon Mobil (XOM.US)$
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