Oil Demand Growth Has Further to Slide
OPEC has again trimmed estimates, yet it’s still much more optimistic than the IEA.
An OPEC-branded oil drum.
Photographer: Andrey Rudakov/Bloomberg
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Welcome to our guide to the energy and commodities markets powering the global economy. Today, oil strategist Julian Lee delves into recent projections for consumption growth and suggests there may be further cuts to come.
Slowly, slowly, oil producers are cutting demand growth forecasts for this year and next. But they’ll have to prune more before they’re done.