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International Energy Agency (IEA) head Fatih Birol states that energy markets could be tighter in 2023, adding that he hopes prices would not rise further in order to ease the pressure on energy-importing developing countries. Birol elaborates that even though currently there was no tightness in the market, there were uncertainties to watch out for, namely Chinese demand and Russian supply. Two Gulf OPEC+ producers, UAE energy minister Suhail al-Mazrouei and Saudi Aramco chief Amin Nasser have said that they see oil markets as balanced.

IEA chief expects tighter energy markets in 2023

International Energy Agency (IEA) head Fatih Birol states that energy markets could be tighter in 2023, adding that he hopes prices would not rise further in order to ease the pressure on energy-importing developing countries. Birol elaborates that even though currently there was no tightness in the market, there were uncertainties to watch out for, namely Chinese demand and Russian supply. Two Gulf OPEC+ producers, UAE energy minister Suhail al-Mazrouei and Saudi Aramco chief Amin Nasser have said that they see oil markets as balanced.

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