28 May 2013
Global oil demand is rising steadily
With oil prices hovering around $103 a barrel, the market has found its sweet spot
Global oil demand continues to rise moderately – this year it will increase by about 800,000 barrels a day (b/d), believe both the International Energy Agency (IEA) and Opec. New production, especially in North America, keeps coming on line, leaving the supplies healthy. Commercial OECD stocks are within their historical range. Things are balanced. Opec can be content. Saudi Arabia, which has long seen $100/b oil as good deal for both producers and consumers, has little reason to mess with the status quo. The UAE’s new oil minister, Suhail Mohammad Al Mazroui, says the oil price is now “fair and suitable”. True, his counterpart from Venezuela, Rafael Ramirez, thinks Opec should be preparing
Also in this section
20 February 2026
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
20 February 2026
Europe has transformed into a global LNG demand powerhouse over the last few years, with the fuel continuing to play a key role in safeguarding the continent’s energy security, Carsten Poppinga, chief commercial officer at Uniper, tells Petroleum Economist
20 February 2026
Sempra Infrastructure’s vice president for marketing and commercial development, Carlos de la Vega, outlines progress across the company’s US Gulf Coast and Mexico Pacific Coast LNG portfolio, including construction at Port Arthur LNG, continued strong performance at Cameron LNG and development of ECA LNG
19 February 2026
US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
