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Hey Oil Market: Forget About OPEC for a Second

Posted on 29 November 2016

The oil market’s attention is focused overwhelmingly on figuring out which OPEC member is going to cut what. The bigger question it shouldn’t lose sight of is this: Who will replace China?
Looking back over 50 years, oil demand has gone through three broad phases: pre-1970s industrialization in the OECD countries, retrenchment after the oil shocks, and then renewed growth through 2015. If the International Energy Agency’s latest long-range forecasts are right, then we stand on the edge of another slowdown in demand growth — a big one………………………………………..Full Article: Source


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