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Oil Demand to Hit Record Level This Year as China Reopens, IEA Says [1]

['Will Horner']

Date: 2023-01

The International Energy Agency raised its forecast for Chinese oil demand to 15.9 million barrels a day.

China’s rapid shift to reopen its economy following lengthy Covid-19 lockdowns should help oil demand rise to a record level this year, the International Energy Agency said.

The energy watchdog lifted its forecast for oil demand growth this year by nearly 200,000 barrels a day to 1.9 million barrels a day. The extra demand means that the IEA now expects total oil demand this year to average 101.7 million barrels a day, well above pre-Covid levels and a record amount.

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[1] Url: https://www.wsj.com/articles/oil-demand-to-hit-record-level-this-year-as-china-reopens-iea-says-11674033745

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