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Oil Demand Signals Are Flashing Red as Price Dips Toward $50

  • Trade is waning, car sales are weak and plastics margins poor
  • Some analysts see oil demand growth at the slowest in 8 years
Bloomberg business news
OPEC Will Keep Oil $65 to $70 in Second Half of the Year, Says FGE’s Fesharaki
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Oil demand is shriveling as the trade war between the U.S. and China trips up the global economy.

Estimates for March and April are pointing to year-on-year declines in regions that account for almost half of global oil demand, according to Morgan Stanley. Indicators including the profit from making plastics have been sinking while refining margins in Europe recently hit multiyear lows.