The global oil-demand growth forecast for 2017 depends on a bumper Q4
Either Q1-Q4 crude consumption will rise at its fastest pace since 2010, or the data are very wrong
The International Energy Agency's (IEA) latest monthly market report is a sobering read for anyone thinking the market was speeding towards supply-demand balance. OECD stocks rose again in April and are now 292m barrels above the five-year average. That metric is important: Saudi Arabia is using it to judge the effectiveness of Opec's cuts. Production is obviously a culprit. The price rise that followed Opec's decision to start holding back supply last November put rockets under US supply. The Energy Information Administration, part of the US government, expects output from the country's major shale formations to reach 5.48m barrels a day in July, its highest-ever level. Globally, the IEA sa
Also in this section
19 March 2026
The regional crisis highlights the undervalued role of fixed pipelines in the age of tanker flexibility
18 March 2026
Rising LNG exports and AI-driven power demand have raised concerns that US gas prices could climb sharply, but analysts say abundant shale supply and continued productivity gains should keep Henry Hub within a range that preserves the competitiveness of US LNG
18 March 2026
Risks of shortages in oil products may cause world leaders to panic and make mistakes instead of letting the market do what it does best
17 March 2026
The crisis in the Middle East has put LNG’s ability to offer security and flexibility under uncomfortable scrutiny
