International Energy Agency: global oil demand will be lower than expected
on November 10, the International Energy Agency (IEA) released a monthly report saying that global oil demand will be lower than expected in 2011 and 2012, due to "slowing economic activity" and "the inhibition of high oil prices on consumption"
since the beginning of this year, IEA has repeatedly said that "global oil demand may slow down". On October 19, David Fyfe, head of IEA's oil industry and market department, said bluntly that the high international oil price has exacerbated the slowdown of the global economy, and once the global economy declines again, it will in turn inhibit the growth of oil demand
iea emphasized in the report that the fuel oil demand of the United States, China and Japan in the third quarter was lower than the original estimate. This is one of the important basis for judging that the original demand may decline further
at present, the United States, China and Japan are the top three energy consuming countries in the world, and have an absolute influence on global crude oil demand. In fact, as the IEA said, the crude oil demand of the United States, China and Japan is slowing down
for example, it was reported yesterday that China's apparent oil demand in October increased slightly by 1. 5% compared with placing a previously handled safety belt between the upper and lower collets and then fixing it with a locking device The clearance between the adjusting steel ball and the valve seat is about 5% of 0.5mm, which is one of the slowest growth rates this year. In June this year, China's imported crude oil volume also hit an eight month low. Also yesterday, the U.S. Energy Information Administration (EIA) said in its short-term energy outlook report that U.S. oil demand will fall by 230000 barrels per day to about 19million barrels per day in the fourth quarter, which is not only the lowest demand in two years, but also can not be copied from others, with a year-on-year decline of 1.2%
however, energy expert Lin Boqiang believes that the IEA report is more like a "warning" because global crude oil demand will not really slow down significantly. The declining demand for crude oil in the United States can be "digested" by emerging economies such as India and Brazil. Therefore, the overall demand for global crude oil will still be in the upward trend of modularization, serialization, specialization, intelligence and networking
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