The IEA is raising forecasts for 2010 and 2011 global oil demand on stronger GDP assumptions and baseline adjustments. Of course, increased demand won’t come from America.
You can see from last year’s consumption patterns how non-OECD countries are leading demand.
Back in the day, according to Platt’s blog, global demand declined in Q2 as Westerners turned off the heat. But last year demand increased in Q2, coming off factors like the two-month Chinese New Year slowdown. The seasonal change promises to shift the way oil is stored and traded.
Business Insider Emails & Alerts
Site highlights each day to your inbox.