08202019Tue
Last updateMon, 19 Aug 2019 4pm

End-User News

IEA: Oil Demand Growth at Lowest Since 2008

Oil demand growth estimates from the International Energy Agency (IEA) have been cut back sharply. In the first half of 2019, IEA reports an increase of only 0.6M b/d, with China the sole source of significant growth at 0.5M b/d. Two other major markets, India and the U.S., both saw demand rise by only 0.1M b/d. The U.S.-China trade dispute remains unresolved, and in September new tariffs are due to be imposed. Tension between the two has increased further this week, reflected in heavy falls for stock and commodity markets.

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