The IEA trimmed its forecast for 2023 oil demand for the first time this year as macroeconomic headwinds including higher interest rates bite, but still sees it reaching a record level thanks to China’s thirst for fuel.
The International Energy Agency now sees oil demand rising by 2.2 million barrels per days (mbd) this year, down from its previous forecast of an increase of 2.4 mbd.
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