OPEC Maintains Forecast for Global Oil Demand Growth in 2023, Predicts Increase in Oil Supply

OPEC Maintains Forecast for Global Oil Demand

OPEC maintained its forecast for global oil demand growth in 2023 by 2.4 million barrels, while the organization expected an increase in global oil supply by 1.5 million barrels in 2023.

Revised Forecasts for Global Economic Growth

In its monthly report, the organization revised its forecasts for global economic growth in 2023 and 2024 to 2.7% and 2.6%, respectively.

Expectations for US and Russian Economies

It also revised its expectations for the growth of the US and Russian economies in 2023 to 1.8% and 0.6%, respectively.

Forecast for Chinese Economy

While it kept its forecast for the growth of the Chinese economy in 2023 at 5.2%.

OPEC Maintains Forecast for Global Oil Demand

OPEC maintained its forecast for global oil demand growth in 2023 by 2.4 million barrels, while the organization expected an increase in global oil supply by 1.5 million barrels in 2023.

Revised Forecasts for Global Economic Growth

In its monthly report, the organization revised its forecasts for global economic growth in 2023 and 2024 to 2.7% and 2.6%, respectively.

Expectations for US and Russian Economies

It also revised its expectations for the growth of the US and Russian economies in 2023 to 1.8% and 0.6%, respectively.

Forecast for Chinese Economy

While it kept its forecast for the growth of the Chinese economy in 2023 at 5.2%.

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