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Julian Lee

Oil Demand Forecasts Are at Risk: Elements by Julian Lee

Prices at the pump aren’t coming down as quickly as those for crude.

Oil demand is in the spotlight this week.

Oil demand is in the spotlight this week.

Photographer: Oliver Bunic/Bloomberg

Hi, I’m Julian Lee with today’s edition of Elements, Bloomberg’s new energy and commodities newsletter. We bring you a daily mix of commentary from Bloomberg Opinion writers and the best of our market-leading news coverage. We hope you’re enjoying it, and if you haven’t yet signed up to get it direct into your inbox, you can do that here.

The world’s three big oil agencies update their forecasts this week. Demand will be in the spotlight, with traders weighing a worsening economic outlook against limited spare production capacity and looming European Union sanctions on Russian exports. I’m expecting another downward revision to oil consumption forecasts.