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Morgan Stanley raises its oil demand growth estimates by 36% in 2023

Morgan Stanley raised its estimates for the growth of global oil demand this year by about 36%, based on the increasing momentum as a result of China’s lifting of restrictions related to the Covid-19 pandemic and the recovery of the aviation sector, but indicated that an increase in supply from Russia would offset that momentum.

The bank said that global oil consumption is expected to rise by about 1.9 million barrels per day, compared to its previous forecast of 1.4 million barrels per day.

“Indicators of transportation in China, such as congestion, are rising steadily,” the bank said, while “flight schedules have boosted demand expectations for jet fuel,” according to Reuters.

Analysts at the bank wrote that supplies from Russia were larger than expected, resulting in a deficit slightly smaller than assumed in the second half of the year. Consequently, analysts reduced their expectations for the price of Brent crude in that period to between $90 and $100 a barrel, from between $100 and $110 in the past.


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لوريم ايبسوم هو نموذج افتراضي يوضع في التصاميم لتعرض على العميل ليتصور طريقه وضع النصوص بالتصاميم سواء كانت تصاميم مطبوعه لوريم ايبسوم ليتصور طريقه لوريم ايبسوم.

About AISU

Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.


92 Members

28 Board of Directors

17 Country

300.000 Employees

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