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World oil demand growth will slow in 2023, OPEC delegates and industry sources said, as surging crude and fuel prices help drive up inflation and act as a drag on the global economy. Although there has been a decline in oil growth in 2020 due to the pandemic, higher prices have become more realistic within this year. Moreover, the fuel price has rebounded this year because demand has soared after a decrease was witnessed in 2020.

Exclusive: OPEC sees global oil demand growth slowing in 2023, sources say

World oil demand growth will slow in 2023, OPEC delegates and industry sources said, as surging crude and fuel prices help drive up inflation and act as a drag on the global economy. Although there has been a decline in oil growth in 2020 due to the pandemic, higher prices have become more realistic within this year. Moreover, the fuel price has rebounded this year because demand has soared after a decrease was witnessed in 2020.

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