MOSCOW, October 12. /TASS/. The International Energy Agency (IEA) has upgraded its outlook on growth of global oil demand for 2023 to 2.3 mln barrels per day (mb/d) from 2.2 mb/d projected by its previous forecast, while in absolute terms global oil demand may total 101.9 mb/d.

Evidence of demand destruction is appearing with preliminary September data showing that US gasoline consumption fell to two-decade lows, the agency said in its October report.

"Buoyant demand growth in China, India and Brazil, nevertheless underpins an increase of 2.3 mb/d to 101.9 mb/d in 2023, of which China accounts for 77%," according to the report.

Meanwhile, growth will slow to 900 kb/d in 2024, "as efficiency gains and a deteriorating economic climate weigh on oil use," the agency noted.