OPEC holds 2023 oil demand forecast steady despite economic growth warning

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OPEC left its forecast for 2023 global oil demand growth steady for a fourth month on Tuesday, though the producer group warned that the world economy faced rising uncertainty and slower growth in the second half of the year. Global oil demand this year will rise by 2.35 million barrels per day (bpd), or 2.4 per cent, the Organization of the Petroleum Exporting Countries (OPEC) said in its monthly report. This was virtually unchanged from the 2.33 million bpd forecast last month. “There are rising uncertainties regarding economic growth in the second half of 2023 amid ongoing high inflation, already...