Experts expect oil demand to grow in 2023

Al Jazeera reported on its website on December 28 that 2022 is a volatile year for the global oil market, and its impact may extend into next year
.
Volatility has been triggered by a number of reasons, not the least of which is the Russia-Ukraine conflict and its transition to a new phase, as well as the attendant transport and financing barriers, high inflation and fears of recession.

As for market expectations for 2023, oil expert Kamal Harami believes that 2023 is an extension of 2022, but there may be greater supply pressure, which may be offset
by the inability to meet demand.

He believes that as the Russia-Ukraine conflict continues, global oil demand will increase to the limit of 100 million barrels per day, which will lead to the convergence of global crude oil prices and the relative balance
of production among major oil producers.

Oil expert Dr.
Abdul Sami Behani believes that OPEC and OPEC+ are at their best in global energy management in 2022, proving their realism in terms of full control over the geopolitical differences of the members of the organization
.
In addition, they have taken flexible measures, taking into account the sanctions
imposed on some members for using discounts outside the official price range when updating their production ceilings and budgets.

Kamal Harami also pointed out that the OPEC+ balance helps the organization maintain the stability of oil prices, and that this balance should benefit both oil producers and exporters
.
These countries believe that the appropriate price per barrel of oil is between $80 and $90 and should not fall below this range
.

Founded in 1960, OPEC currently includes 13 oil-exporting countries, while OPEC+ was established in November 2016 as an alliance
between OPEC members and 10 oil-producing countries outside the organization led by Russia to ensure the stability of the global oil market.