Wobbling Asian Demand Is A Problem For Oil Industry
Now
that OPEC’s economic oil war against the United States, led by Saudi
Arabia, seems to be over, the resulting global oil glut has kept demand
down. The IEA
lowered its predictions of world oil demand by about 100,000 barrels/day
for this year and about 200,000 barrels/day for next year, citing
China’s economic slowdown, as well as a decline in oil demand in Europe
and India, as the reason for this forecast. Oil supply will continue to outpace demand, probably for the next two years.http://www.forbes.com/sites/jamesconca/2016/09/14/wobbling-asian-demand-is-a-problem-for-global-oil/#24b92a1cbba6
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