In 2023, the global oil demand gradually recovered, “OPEC+” continued to actively control supply, the market supply and demand maintained a tight balance, oil inventories remained low, the impact of geopolitical premiums gradually faded, international oil prices fell year-on-year, but still remained high, with the annual average price of Brent crude oil futures at 82.17 USD/barrel, a year-on-year decrease of 17%.

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International Oil Market Analysis

  • Xingkun Qian,
  • Ruquan Lu,
  • Liangcai Luo,
  • Mouyuan Wu,
  • Qin Liao

摘要

In 2023, the global oil demand gradually recovered, “OPEC+” continued to actively control supply, the market supply and demand maintained a tight balance, oil inventories remained low, the impact of geopolitical premiums gradually faded, international oil prices fell year-on-year, but still remained high, with the annual average price of Brent crude oil futures at 82.17 USD/barrel, a year-on-year decrease of 17%.