Related Articles
Forward article link
Share PDF with colleagues

Demand is rising fast, but prices won’t follow just yet

The International Energy Agency’s (IEA) latest oil-market report suggests the fundamentals are turning, led by demand

Oil consumers are responding to low oil prices the way economists say they ought to -- and it might mean the market has found its bottom. The International Energy Agency’s (IEA) latest oil-market report suggests the fundamentals are turning, led by demand. It will rise this year by 1.6m barrels/day, to 94.2m, a sharp upwards revision from last month’s report of 300,000 b/d. Consumption will grow in 2015 by more than twice the pace of 2014. The new numbers reflect more health in the global economy, but also the response of consumers to low prices, thinks the IEA. In the US, gasoline demand is near a record high. Chinese, Brazilian and even Russian demand estimates have been adjusted up. Pr

Also in this section
Saudi Arabia pushes ahead with IPO
22 March 2017
The state firm is making the right noises about its privatisation, but the clock is ticking and market fundamentals could still shift
An M&A lifeline in the North Sea
15 March 2017
Assets that cut tax bills could be a blessing for UKCS operators looking for a bargain
Depth, breadth and data
15 March 2017
Fresh from the merger with Baker Hughes, GE Oil & Gas boss tells Petroleum Economist about his firm's plans for digital analysis, cost-cutting and recovery