Oil Demand going up
Posted: Wed Feb 25, 2015 11:46 am
Global oil demand rose 2.2 million barrels a day in December from a year earlier, the strongest growth in 18 months, London-based Energy Aspects said Tuesday. Read article below.
http://www.bloomberg.com/news/articles/ ... cmpid=yhoo
IMO we will see a BIG increase in demand for refined products this summer. Back in the summer of 2009 (a year after the oil price dropped in Q3 2008) there was a HUGE increase in demand (~3 million bbls per day). You may recall the global economy was in big trouble back then, so this summer's spike in demand could be even more. BTW this will happen at the same time U.S. production goes on decline.
http://www.bloomberg.com/news/articles/ ... cmpid=yhoo
IMO we will see a BIG increase in demand for refined products this summer. Back in the summer of 2009 (a year after the oil price dropped in Q3 2008) there was a HUGE increase in demand (~3 million bbls per day). You may recall the global economy was in big trouble back then, so this summer's spike in demand could be even more. BTW this will happen at the same time U.S. production goes on decline.