FT Alphaville

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Jul 17
Liquid fuels consumption forecasts from the EIA’s annual energy outlook for 2012.  The IEA also published a forecast recently on oil consumption shifting away from rich countries, about which the FT writes:  Oil demand in the developing world will overtake that in industrialised countries for the first time next year, a tipping point in oil demand geography that will have profound implications for energy markets. … The IEA said demand in countries that did not belong to the OECD club of rich nations would reach 45.7m barrels a day next year, 600,000 b/d more than demand in OECD states. The switch will come as no surprise to most observers, since OECD oil demand has been in structural decline since 2005. It rose year-on-year in 2010, but that was seen as a post-recessionary bounce. It fell again in 2011 and is set to fall this year too. (Cardiff)

Liquid fuels consumption forecasts from the EIA’s annual energy outlook for 2012. 

The IEA also published a forecast recently on oil consumption shifting away from rich countries, about which the FT writes: 

Oil demand in the developing world will overtake that in industrialised countries for the first time next year, a tipping point in oil demand geography that will have profound implications for energy markets. …

The IEA said demand in countries that did not belong to the OECD club of rich nations would reach 45.7m barrels a day next year, 600,000 b/d more than demand in OECD states.

The switch will come as no surprise to most observers, since OECD oil demand has been in structural decline since 2005. It rose year-on-year in 2010, but that was seen as a post-recessionary bounce. It fell again in 2011 and is set to fall this year too.

(Cardiff)

Posted 10 months ago

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