«U.S. producers are enjoying a second wave of growth so extraordinary that in 2018 their increase in liquids production could
equal global demand growth,» the IEA said in its closely - watched report published Tuesday.
Amrita Sen of Energy Aspects
says global demand growth «is absolutely soaring right now,» which should ultimately push prices up.
Global demand growth hit a three - year low of 1 million barrels a day during the first three months of the year, with overall demand rising to 96.5 million barrels a day.
We really
hope global demand growth expectations materialize, otherwise we will once again be out of balance at a time when speculative long positions are at all - time highs.
The firm also said this week that Trump's plan would add just 0.4 percentage point to
global demand growth for steel and copper.
As the enduring spread between WTI and the global Brent benchmark shows,
global demand growth is coming entirely from emerging markets.
The aluminum producer issued weaker than anticipated guidance for
global demand growth, projecting 4.25 to 5.25 percent growth in 2018, compared to 5.25 percent growth in 2017, according to Thomson Reuters.
Global demand growth is «coming somewhere close to 1.6 to 1.7 million barrels per day and is driven by distillates,» BP's Regional CEO for Supply and Trading for the Eastern Hemisphere, Janet Kong, said at the conference.
Because the BRICS countries and many other emerging markets are forecasted to have a weak year in 2016, the IEA predicts that «
global demand growth will fall to 1.2 million barrels per day in 2016.»