The global oil market will likely tighten in the second half of 2023 after the recent decision by OPEC+ to cut oil production, Spencer Dale, BP plc’s chief economist said on Tuesday.
There is a scope for oil markets to tighten a little bit in case China’s oil demand and its overall economy recovers, Dale told reporters in a press conference.
Source: Reuters (Reporting by Nidhi Verma in New Delhi; Editing by Savio D’Souza)