The IEA and Opec remain bullish that a strong second half of the year will drive global demand growth to more than 2mn b/d over the course of 2023. Each revised up their expectations for demand growth this year, with the IEA up a strong 240,000 b/d to 2.45mn b/d and Opec a more modest 20,000 b/d to 2.35mn b/d, despite oil prices pointing to a well-supplied market amid continued global macroeconomic uncertainty.