Still, oil demand at the world's biggest oil importer has so "far remained remarkably unaffected by its economic downturn", the IEA said.
Estimates of global demand and supply this year and next differ markedly depending on the forecaster.
The IEA estimates 2023 global demand to grow by 2.2 million bpd, while OPEC expects growth of 2.44 million bpd.
The IEA expects growth to slow sharply to 1 million bpd, while OPEC has a far rosier estimate of 2.25 million bpd.
Meanwhile, the U.S government's Energy Information Administration has forecast demand growth at 1.81 million bpd for 2023 and 1.36 million bpd next year.
Persons:
Jean, Paul Pelissier, Tamas Varga, PVM, Natalie Grover, Alex Lawler, Louise Heavens, Jason Neely
Organizations:
REUTERS, Rights Companies, Rights Companies Danang Petroleum Machinery Technology JSC, International Energy Agency, OPEC, Brent, IEA, U.S government's Energy, Administration, Thomson
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Marseille, France, Rights Companies Danang, Saudi Arabia, Russia, OPEC, United States, Brazil, Iran, China, Asia, Africa, Latin America, London