SET-listed Thai Oil Plc (TOP), the oil refinery arm of national oil and gas conglomerate PTT Plc, expects a better outlook for oil trading this year, with the global demand and supply of oil believed to be almost equal.
Demand for crude oil is expected to stand at 101 million barrels per day (MBD), an increase of 1.6 MBD from 2022, while supply will be 101.3 MBD, an increase of 1.5 MBD from last year, said Nuttapol Nopparatwong, TOP’s vice-president for commercial planning, citing an estimate from the US Energy Information Administration.
There would be a drop in the current surplus of oil supply as the Organisation of Petroleum Export Countries…
