WTI recovers above $78 on upbeat IEA’s oil market report Oil WTI China Commodities Energy
market report published on Wednesday, the International Energy Agency said that China reopening will drive oil demand in 2023 but still deficit could loom.Russian crude exports increased in Jan by nearly 300,000 MoM.Global oil output set to rise 1.2 mln bpd in 2023, driven by non-OPEC+ producers.Supply-demand balance could quickly shift to deficit as demand recovers, some Russian output shut in.China set to account for 900,000 bpd of 2023 oil demand growth after COVID-19 reopening.
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