The two benchmarks are on track to end the week up by more than 6 percent.
The market received support this week from expectations International Energy Agency Regarding the recovery of Chinese demand next year after its contraction in 2022 to 400 thousand barrels per day. The agency raised its forecast for demand growth for oil In 2023 to 1.7 million barrels per day.
announced by the Organization of the Petroleum Exporting Countries (OPECTuesday, its commitment to its forecast for global demand growth of 2.55 million barrels per day this year and 2.25 million barrels per day in 2023 after multiple cuts, saying that despite the economic slowdown "Quite clear" There is a potential rise stemming from, among other things, the easing of the zero Covid policy in China.
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retreat Brent crude To about $80.97 a barrel, down 0.3 percent, as well as West Texas Intermediate crude, which fell to $75.87, down 0.32 percent.
The two benchmarks are on track to end the week up by more than 6 percent.
The market received support this week from expectations International Energy Agency Regarding the recovery of Chinese demand next year after its contraction in 2022 to 400 thousand barrels per day. The agency raised its forecast for demand growth for oil In 2023 to 1.7 million barrels per day.
announced by the Organization of the Petroleum Exporting Countries (OPECOn Tuesday, it adhered to its forecast for global demand growth of 2.55 million barrels per day this year and 2.25 million barrels per day in 2023 after multiple cuts, saying that although the economic slowdown was “quite clear” there was a potential pick-up stemming from, among other things, the easing of the zero policy. covid in China.