LONDON : OPEC said on Tuesday Chinese oil demand would rebound this year due to relaxation of the country's COVID-19 curbs and drive global growth, and sounded an optimistic note on the prospects for the world economy in 2023.World demand in 2023 will rise by 2.22 million barrels per day (bpd), or 2.2 per
LONDON : OPEC said on Tuesday Chinese oil demand would rebound this year due to relaxation of the country's COVID-19 curbs and drive global growth, and sounded an optimistic note on the prospects for the world economy in 2023.
OPEC sounded upbeat on the world economy's prospects this year, even though it still expects a relative slowdown, saying growth last year in the United States and the euro zone had surpassed previous forecasts. "Chinese oil demand is on course to rebound due to the recent relaxation of the country's zero-COVID-19 measures," it said in a separate section, adding that plans to expand fiscal spending were also likely to support demand.
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