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OPEC expects global oil demand to rise in 2023, albeit at a slower pace than 2022, the producer group said in its first forecast for next year, citing signs of robust economic growth and progress in containing COVID-19 in China.  One of the main reasons for slow oil demand growth is tight supply and logistical problems which have affected the process of oil demand growth.

OPEC sees slower 2023 oil demand growth, no big shale gain

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OPEC expects global oil demand to rise in 2023, albeit at a slower pace than 2022, the producer group said in its first forecast for next year, citing signs of robust economic growth and progress in containing COVID-19 in China. 

One of the main reasons for slow oil demand growth is tight supply and logistical problems which have affected the process of oil demand growth.

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