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OPEC has lowered its forecast for global oil demand growth in 2023 by 200,000 barrels per day, bringing it to 580,000 barrels per day, while raising its forecast for demand growth in 2027 by 220,000 barrels per day to reach 2.16 million barrels per day. This comes amid expectations of improved oil demand in the coming years, despite the anticipated slowdown in growth this year.
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