• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 day GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days The United States produced more crude oil than any nation, at any time.
  • 4 days How Far Have We Really Gotten With Alternative Energy
  • 3 days Bad news for e-cars keeps coming
  • 4 days China deletes leaked stats showing plunging birth rate for 2023
  • 6 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
Editorial Dept

Editorial Dept

More Info

Oil Prices To Rise On Strong Oil Demand

Oil Prices To Rise On Strong Oil Demand

Friday March 9, 2018

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. Oil demand picking up

(Click to enlarge)

- The Baltic Dry Index, which measures freight costs, is about 25 percent higher than a year ago, according to Bloomberg. The index can be interpreted as a proxy for global trade, and offers a bullish indicator for commodities.
- Oil demand could end up being “way in excess” of last year’s lofty levels, according to Saudi oil minister Khalid al-Falih.
- Part of the reason for strong oil demand is robust global trade, which the IMF sees expanding by 4 percent for three consecutive years through 2019, the strongest stretch in over a decade, according to Bloomberg.
- “Global synchronized economic growth -- across developed and emerging markets -- is driving a notable uptick in manufacturing and trade, boosting construction and freight movements which look to be behind renewed growth in diesel demand, after several years in the doldrums,” said Eric Lee, an analyst at Citigroup Inc.
- Trade tariffs, which could spark a bout of protectionism, could put this run of trade growth in jeopardy.

2. China seeks to dominate clean energy

(Click to enlarge)

- China already dominates global solar…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News