Another Day, Another Miserable Oil-Demand Forecast: Chart - Bloomberg:
All is not well in the global oil market, and the U.S. Energy Information Administration is the latest big forecasting agency to say so. The EIA said in its Short-Term Energy Outlook on Tuesday that 2019 oil demand will come in at around 900,000 barrels a day, down sharply from the 1.55 million it was anticipating back in January. The downward revision, the eighth in a row, makes the EIA the first of the three major agencies to cut growth below 1 million barrels a day.
All is not well in the global oil market, and the U.S. Energy Information Administration is the latest big forecasting agency to say so. The EIA said in its Short-Term Energy Outlook on Tuesday that 2019 oil demand will come in at around 900,000 barrels a day, down sharply from the 1.55 million it was anticipating back in January. The downward revision, the eighth in a row, makes the EIA the first of the three major agencies to cut growth below 1 million barrels a day.
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