OPEC forecasts ‘healthy’ global oil demand growth, thanks to China

OPEC on July 13 revised up its 2023 global oil demand growth forecast to 2.44 million b/d on the back of a stronger Chinese economy, and, in its first look at 2024, said it expects another “healthy” 2.25 million b/d rise for the year. The 2023 and 2024 demand figures far outpace OPEC’s estimate of non-OPEC supply growth, pegged at…