LONDON - China will make up nearly half of this year's oil demand growth after it relaxed its COVID-19 curbs, the International Energy Agency (IEA) said on Wednesday, but restrained OPEC+ production could mean a supply deficit in the second half.

"Supply from OPEC+ is projected to contract with Russia pressured by sanctions," the Paris-based agency said in its monthly oil report.

"World oil supply looks set to exceed demand through the first half of 2023, but the balance could quickly shift to deficit as demand recovers and some Russian output is shut in."

(Reporting by Noah Browning; editing by Jason Neely)