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Author	Topic: Global oil demand growth accelerating	Post a Reply Back to Topics

GasPasserAB Champion Author Edmonton Posts:25,605 Points:914,900 Joined:Apr 2010	Message Posted: May 11, 2012 3:54:50 PM Ignore GasPasserAB Report Abuse After posting near-zero annual growth in the fourth quarter of 2011, global oil demand growth will gradually accelerate throughout 2012, culminating in an increase of 1.2 million b/d by this year’s final quarter, the International Energy Agency said in its latest monthly oil market report. Global oil consumption is set to rise by 800,000 b/d this year to 90 million b/d, unchanged from the agency’s previous report, with gains in developing countries more than offsetting declining demand within countries of the Organization for Economic Cooperation and Development. The International Monetary Fund raised its global economic growth projections for this year and 2013 in the World Economic Outlook published last month. IMF now forecasts 2012 growth of 3.5%, revised from 3.3% in January, and Visit O&G Journal for full article

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After posting near-zero annual growth in the fourth quarter of 2011, global oil demand growth will gradually accelerate throughout 2012, culminating in an increase of 1.2 million b/d by this year’s final quarter, the International Energy Agency said in its latest monthly oil market report.

Global oil consumption is set to rise by 800,000 b/d this year to 90 million b/d, unchanged from the agency’s previous report, with gains in developing countries more than offsetting declining demand within countries of the Organization for Economic Cooperation and Development.

The International Monetary Fund raised its global economic growth projections for this year and 2013 in the World Economic Outlook published last month. IMF now forecasts 2012 growth of 3.5%, revised from 3.3% in January, and
Visit O&G Journal for full article

REPLIES (newest first)Ignore Short Messages

remay Champion Author Houston Posts:7,078 Points:2,143,215 Joined:May 2006	Message Posted: May 13, 2012 7:04:01 AM Ignore remay Report Abuse So much for the drop in price at the pump...
gandalfthegrey1 Champion Author Houston Posts:1,184 Points:384,785 Joined:Feb 2011	Message Posted: May 12, 2012 5:09:23 AM Ignore gandalfthegrey1 Report Abuse All the more reason for us to increase production for our own use instead of foreign oil, bring income by selling what we don't use, add jobs to all the ancilliary industries and get our own economy on the right track.
gasmask78 Champion Author Virginia Posts:2,385 Points:467,770 Joined:Sep 2011	Message Posted: May 11, 2012 10:55:46 PM Ignore gasmask78 Report Abuse Of course this is happening. More people are driving, and fewer people carpool these days.
Jeff4U Champion Author Atlanta Posts:8,890 Points:1,878,955 Joined:Nov 2004	Message Posted: May 11, 2012 10:45:26 PM Ignore Jeff4U Report Abuse If this isn't speculation, what is? Remember the Boy Who Cried Wolf? His name was O&G.
eomc17 Champion Author Tucson Posts:1,840 Points:135,330 Joined:Mar 2007	Message Posted: May 11, 2012 9:47:33 PM Ignore eomc17 Report Abuse Look who wrote this bullsh.t, the Oil and Gas journal. They always predict higher oil and gas consumption.
anascom Champion Author Hamilton Posts:1,593 Points:556,690 Joined:Feb 2011	Message Posted: May 11, 2012 9:39:26 PM Ignore anascom Report Abuse bad news! speculators will take such news as an excuse to raise oil prices!
egd Champion Author Twin Cities Posts:8,226 Points:2,145,025 Joined:Mar 2005	Message Posted: May 11, 2012 9:07:42 PM Ignore egd Report Abuse duh, we need alternative energies and transportation, now
roadrunnin Champion Author Richmond Posts:1,801 Points:581,280 Joined:May 2008	Message Posted: May 11, 2012 8:19:50 PM Ignore roadrunnin Report Abuse higher prices on the way . . .
orphancarguyPE Champion Author PEI Posts:3,905 Points:758,100 Joined:Jan 2011	Message Posted: May 11, 2012 7:51:53 PM Ignore orphancarguyPE Report Abuse I see yet another poster who thinks the US is exporting US oil, )and that is why prices are so high.) The US only produces, even with all the new expensive fracked oil production, only about half of the oil it uses every day. The balance is imported. How can you be exporting oil if you don't even cover your own daily use? Every barrel of US oil exported would just have to added to the imports from somewhere else. Not even possible, as US oil is cheaper than the current international market Brent price, by around $20 dollars a barrel. I am confused as to how some people can 'believe 6 impossible things before breakfast' to quote the Alice books.
graceman Champion Author Baltimore Posts:4,968 Points:1,158,725 Joined:Jun 2008	Message Posted: May 11, 2012 7:29:59 PM Ignore graceman Report Abuse Here go the prices again.
asog75 All-Star Author Indiana Posts:838 Points:283,245 Joined:Aug 2011	Message Posted: May 11, 2012 6:57:32 PM Ignore asog75 Report Abuse more speculation??
montmark Sophomore Author California Posts:124 Points:324,860 Joined:Apr 2012	Message Posted: May 11, 2012 5:51:11 PM Ignore montmark Report Abuse Interesting that there was almost no mention of the increasing demand in other markets like India and Latin America..especially Brazil and Chile.
molebaby96 Champion Author Tallahassee Posts:2,173 Points:528,255 Joined:Nov 2011	Message Posted: May 11, 2012 5:39:51 PM Ignore molebaby96 Report Abuse Don't export our oil.
Lugi1967 Champion Author Ohio Posts:4,916 Points:1,028,685 Joined:Jun 2010	Message Posted: May 11, 2012 5:10:48 PM Ignore Lugi1967 Report Abuse They (OPEC)can only hope so
buckets42 Champion Author New Jersey Posts:1,690 Points:329,550 Joined:Oct 2011	Message Posted: May 11, 2012 4:58:42 PM Ignore buckets42 Report Abuse Yeah, not here in US
Cakes77 Champion Author Harrisburg Posts:5,285 Points:1,677,295 Joined:Aug 2006	Message Posted: May 11, 2012 4:36:20 PM Ignore Cakes77 Report Abuse But not here in the US.