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Author	Topic: IEA Ups Oil Demand Forecast, Warns on Supplies	Post a Reply Back to Topics

bar1035 Champion Author Charlotte Posts:9,172 Points:1,300,170 Joined:Aug 2006	Message Posted: Jan 18, 2013 8:47:14 AM Ignore bar1035 Report Abuse The "awakening dragon" that is the growing Chinese economy will help boost oil demand in 2013, the International Energy Agency (IEA) said on Friday as it raised its 2013 demand forecast. According to the IEA, global oil consumption will rise to 90.8 million barrels per day (bpd), a 240,000 barrels per day increase over its previous estimate. Overall, 2013 consumption will increase 1 percent on 2012. The organization cited higher winter demand in the fourth quarter of 2012 and heightened expectations for growth in China, the world's second largest energy consumer, for hiking estimates. Economic data from China on Friday, showed a pick-up, with growth accelerating to 7.9 percent in the fourth quarter, from a year ago. After warning in December of "violent structural changes" as Visit CNBC for full article

bar1035

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Charlotte

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Message Posted: Jan 18, 2013 8:47:14 AM

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The "awakening dragon" that is the growing Chinese economy will help boost oil demand in 2013, the International Energy Agency (IEA) said on Friday as it raised its 2013 demand forecast.

According to the IEA, global oil consumption will rise to 90.8 million barrels per day (bpd), a 240,000 barrels per day increase over its previous estimate.

Overall, 2013 consumption will increase 1 percent on 2012. The organization cited higher winter demand in the fourth quarter of 2012 and heightened expectations for growth in China, the world's second largest energy consumer, for hiking estimates.

Economic data from China on Friday, showed a pick-up, with growth accelerating to 7.9 percent in the fourth quarter, from a year ago.

After warning in December of "violent structural changes" as
Visit CNBC for full article

REPLIES (newest first)Ignore Short Messages

DrCashFlow Champion Author Massachusetts Posts:7,074 Points:1,629,075 Joined:Jun 2008	Message Posted: Jan 19, 2013 3:22:19 AM Ignore DrCashFlow Report Abuse track record is mediocre at best
ExplorerWA Champion Author Washington Posts:4,088 Points:798,350 Joined:Feb 2011	Message Posted: Jan 18, 2013 10:04:15 PM Ignore ExplorerWA Report Abuse Unless we quit buy from them and develop our own resources.
bwatchingu Champion Author Arkansas Posts:1,745 Points:602,495 Joined:Jan 2009	Message Posted: Jan 18, 2013 1:07:55 PM Ignore bwatchingu Report Abuse hmmm
doctorindyj Champion Author Santa Fe Posts:3,458 Points:840,785 Joined:Nov 2009	Message Posted: Jan 18, 2013 11:47:14 AM Ignore doctorindyj Report Abuse Blah Blah Blah.
gbs1 Champion Author Minnesota Posts:2,006 Points:743,575 Joined:Mar 2011	Message Posted: Jan 18, 2013 9:46:25 AM Ignore gbs1 Report Abuse China will continue to drive oil prices higher with increased demand
LilRedWagonIN Champion Author Indiana Posts:7,786 Points:1,556,335 Joined:Oct 2008	Message Posted: Jan 18, 2013 9:42:45 AM Ignore LilRedWagonIN Report Abuse Up for the foreseeable future.
carolfitz4438 Veteran Author New York Posts:251 Points:186,945 Joined:May 2011	Message Posted: Jan 18, 2013 9:24:47 AM Ignore carolfitz4438 Report Abuse Up again
Discovery02 Champion Author Colorado Springs Posts:2,570 Points:311,640 Joined:May 2012	Message Posted: Jan 18, 2013 9:22:57 AM Ignore Discovery02 Report Abuse And the search for reasons to raise crude and gas prices continues.
deputydog082 Champion Author Detroit Posts:1,791 Points:661,315 Joined:Apr 2011	Message Posted: Jan 18, 2013 9:15:25 AM Ignore deputydog082 Report Abuse up go the prices!
fowlcan Champion Author Oklahoma City Posts:2,120 Points:685,565 Joined:Feb 2011	Message Posted: Jan 18, 2013 9:10:01 AM Ignore fowlcan Report Abuse The more you burn the bigger the bite in your wallet.
cdrrod Champion Author Wisconsin Posts:4,159 Points:785,500 Joined:Feb 2006	Message Posted: Jan 18, 2013 9:00:22 AM Ignore cdrrod Report Abuse And the Chinese said: "Pur cur chee" (you are welcome). [Edited by: cdrrod at 1/18/2013 9:01:20 AM EST]
Point__man Champion Author Raleigh Posts:4,340 Points:878,670 Joined:Oct 2010	Message Posted: Jan 18, 2013 8:59:27 AM Ignore Point__man Report Abuse Another excellent reason top reroute the Keystone XL to Canada's West Coast and not the Gulf. The Chinese need it and they have stated they want it; so why not give it to them ;)
bills299 Champion Author Atlanta Posts:3,371 Points:905,465 Joined:May 2005	Message Posted: Jan 18, 2013 8:58:07 AM Ignore bills299 Report Abuse Wow!
FPLREP Champion Author Virginia Posts:8,268 Points:2,450,140 Joined:Oct 2005	Message Posted: Jan 18, 2013 8:56:29 AM Ignore FPLREP Report Abuse The dragon can't make what it can't sell.