OPEC is still forecasting robust oil demand growth of 3.1 million bpd for 2022 and a further 2.7 million bpd in 2023, despite concerns of a recession, buoyed by "still-solid" economic performance in many countries and expected feedstock switching in power generation from gas to liquid fuels....
Oil prices inched lower on Wednesday on concerns of another US Federal Reserve interest rate hike next week after consumer prices unexpectedly rose in August, outweighing support from a robust OPEC oil demand growth forecast.
Brent crude futures fell 38 cents, or 0.4%, to $92.79 a barrel. US...