Analysts: 2019 Oil Demand Growth Could Be Lowest In Years
Wednesday, 12 June 2019 While OPEC and Russia are busy calibrating a possible extension to their production cuts, analysts and traders have turned their attention away from oil supply concerns and are focused again on faltering economic growth and a downbeat outlook on oil demand growth. Over the past two weeks, several Wall Street investment banks have warned that the escalating U.S.-China trade war raises the odds of an economic slowdown and subsequent low oil demand growth. Some banks have already cut their oil demand growth estimates for this year, saying that…
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U.S. shale’s production growth will outstrip global oil demand growth this year, capping oil price gains until 2020, according to Goldman Sachs. U.S. oil... OilPrice.com Also reported by •MENAFN.com •SmartBrief
OPEC and allies had little choice but to roll over their production cuts into the first quarter of 2020 amid higher-than-average global inventories, continued... OilPrice.com Also reported by •MENAFN.com