Oil demand growth forecast raised, defying economic slowdown – IEA

<ul><li>2023 oil demand growth forecast raised to 2.4 mil bpd (previously 2.3 mil bpd)</li><li>2024 oil demand growth forecast raised to 930k bpd (previously 880k bpd)</li></ul><p>The IEA follows OPEC yesterday <a href="https://www.forexlive.com/news/opec-dispels-negative-sentiment-in-latest-oil-market-report-20231113/" target="_blank" rel="follow">here</a> in saying that oil market conditions remain robust, as they lift their forecasts for this year and next year on demand. That is despite an expected slowdown in economic growth in nearly all major economies in the year ahead. The agency says that oil demand has been resilient with China clocking a record high of 17.1 mil bpd in September.</p>

This article was written by Justin Low at www.forexlive.com.