Afshin Javan, the Iranian representative of the Organization of Petroleum Exporting Countries (OPEC), thinks that the global oil prices may rebound to around $100/ barrel in the second half of 2023 because of his optimistic demand prospect in China.
Javan said at the India Energy Week held in Bangalore, India on Wednesday (February 9) that China's demand is expected to recover, but the supply is still limited, which may push the oil prices up to $ 100 per barrel, equivalent to about 20% higher than the current international crude oil futures price.