Wednesday, 19 June 2019

COLUMN-Global economic slowdown hits oil consumption: Kemp - Reuters

COLUMN-Global economic slowdown hits oil consumption: Kemp - Reuters:

Global oil consumption rose last year at the slowest rate since 2014, as higher prices and broad deceleration in manufacturing activity and freight movements took their toll on fuel use and petrochemicals.

Consumption is likely to rise even more slowly in 2019, given the further weakening of most manufacturing and freight indicators since the start of the year. 


World consumption increased by just 1.44 million barrels per day (1.46%) in 2018, according to the latest edition of the BP Statistical Review of World Energy, published on June 11.

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