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Gazprom Expects Oil Demand To Rise To 101.5-102mbpd In 2023
Gazprom Neft forecasts global oil demand to increase to 101.5-102mbpd this year, Tass reported, citing CEO Alexander Dyukov.
- The global banking crisis, high interest rates and a decline in consumption from the EU and the US are weighing on oil demand growth, Dyukov said.
- OPEC forecasts oil demand to reach 101.9mbpd. The IEA sees oil consumption to rise to 102.3mbpd and EIA forecasts demand to reach 101.01mbpd this year.
- As part of Russia’s pledged 500kbpd oil production cuts, Gazprom has reduced its crude output and will maintain lower production rates in 2023 and 2023, he added.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.