OPEC: Chinese demand to be 500-600k barrels/day

OPEC Secretary General, Haitham Al-Ghais, said the Chinese demand of oil will increase to 500 and 600 thousand barrels per day in 2023 as a result of lifting the COVID-19 restrictions in China.


Al-Ghais mentioned during the CERAWeek Oil Conference in Houston that they are hopeful with the Chinese lifting of restrictions. OPEC expects global oil demand to rise by 2.3 million bpd this year, its secretary general said.


CERAWeek Oil Conference launched this week in Houston, U.S. to discuss energy affairs and will focus on concerns of global energy supply. Worth mentioning that this is the first time that the OPEC secretary general meets with American shale oil heads.

Source: Amwal Al Ghad