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Analysts: 2019 Oil Demand Growth Could Be Lowest In Years

OilPrice.com 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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News video: Rising US Inventories Push Oil Prices Down

Rising US Inventories Push Oil Prices Down 00:53

According to Reuters, the price of oil plunged by 2-percent. On June 12th, crude oil futures extended their losses after the US Energy Information Administration said domestic oil inventories unexpectedly rose for a second consecutive week. That led the EIA to cut their 2019 forecast for global oil...

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