OPEC on Tuesday further raised its forecast for Chinese oil demand growth in 2023 due to the relaxation of the country's COVID-19 curbs, although it left the global total steady citing potential downside risks for world growth.
"The rapid rises in interest rates and global debt levels could cause significant negative spill-over effects, and may negatively impact the global growth dynamic," OPEC added.
OPEC was cautious on economic prospects, leaving its 2023 global growth forecast at 2.6%. The report cited the U.S. Federal Reserve successfully managing an inflation slowdown as among potential upside factors. For November last year, with prices weakening, OPEC+ agreed to a 2 million bpd reduction in its output target - the largest since the early days of the pandemic in 2020. OPEC's share of the cut is 1.27 million bpd.
France Dernières Nouvelles, France Actualités
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