Crude oil prices in 2023 are expected to rise slightly in the latter half of that year as global oil demand is forecast to outpace production, the US Energy Information Administration said Nov. 8, although it still sees prices being lower on an annual average basis than in 2022. The EIA in its November Short-Term Energy Outlook also flagged low inventories of distillate fuels, which it sees leading to high prices for diesel through early 2023.
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