In its monthly oil market report, the International Energy Agency (IEA) raised the global oil demand growth forecast for 2023 while downgrading it for
the next year. Key takeaways 2024 global oil demand growth forecast cut to 880k bpd . Harsher economic conditions and energy efficiency improvements. Recent oil price pullback reflects demand destruction.
2023 global oil demand growth forecast bumped up to 2.3 million bpd . Cites less worse conditions in China, India, and Brazil. Market reaction WTIis challenging daily highs near $83.10 on the above findings, adding 1.11% on the day.
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