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Why will demand for oil spike in Q3?
Why will demand for oil spike in Q3?
Last edited by dan_s on Mon Jun 08, 2015 8:52 pm, edited 1 time in total.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Why will demand for oil spike in Q3?
We could face a global oil shortage by year-end http://www.businessinsider.com/we-could ... end-2015-6
In the 12-month period after crude oil bottomed in 2008-2009 oil price cycle - from $147/bbl to $35/bbl in early 2009 - demand for refined products increased by 3.3 million bbls per day (the biggest increase in demand EVER). During that cycle, EIA grossly under-estimated demand growth as a result of low prices. I think they are doing it again.
In the 12-month period after crude oil bottomed in 2008-2009 oil price cycle - from $147/bbl to $35/bbl in early 2009 - demand for refined products increased by 3.3 million bbls per day (the biggest increase in demand EVER). During that cycle, EIA grossly under-estimated demand growth as a result of low prices. I think they are doing it again.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group