OPEC expects the world oil demand to increase by 2.32 million bpd this year. Moreover, Chinese oil demand is increasing due to the relaxation of the country’s COVID-19 curbs. OPEC expects Chinese oil demand to grow by 710,000 bpd in 2023, up from last month’s forecast of 590,000 bpd.
Despite the promising growth potential of the energy sector, Reconnaissance Energy Africa Ltd. (RECAF) is lagging behind. In this article, I will explore the industry’s prospects and the possible reasons behind RECAF’s underperformance.
