IEA raises 2023 oil demand and supply growth estimates

The International Energy Agency on Nov. 14 raised its estimates for oil demand and supply growth in 2023 by 100,000 b/d and 200,000 b/d respectively, citing Chinese demand on the one hand and “outperforming” production in the US and Brazil on the other. In its monthly oil market report, the IEA said China’s oil demand had reached an all-time high…The International Energy Agency on Nov. 14 raised its estimates for oil demand and supply growth in 2023 by 100,000 b/d and 200,000 b/d respectively, citing Chinese demand on the one hand and “outperforming” production in the US and Brazil on the other. In its monthly oil market report, the IEA said China’s oil demand had reached an all-time high…  Read More