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Author Topic: IEA Ups Oil Demand Forecast, Warns on Supplies Back to Topics
bar1035

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Charlotte

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

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
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DrCashFlow
Champion Author Massachusetts

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Message Posted: Jan 19, 2013 3:22:19 AM

track record is mediocre at best
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ExplorerWA
Champion Author Washington

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Message Posted: Jan 18, 2013 10:04:15 PM

Unless we quit buy from them and develop our own resources.
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bwatchingu
Champion Author Arkansas

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Message Posted: Jan 18, 2013 1:07:55 PM

hmmm
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doctorindyj
Champion Author Santa Fe

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Message Posted: Jan 18, 2013 11:47:14 AM

Blah Blah Blah.
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gbs1
Champion Author Minnesota

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Message Posted: Jan 18, 2013 9:46:25 AM

China will continue to drive oil prices higher with increased demand
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LilRedWagonIN
Champion Author Indiana

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Message Posted: Jan 18, 2013 9:42:45 AM

Up for the foreseeable future.
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carolfitz4438
Veteran Author New York

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Message Posted: Jan 18, 2013 9:24:47 AM

Up again
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Discovery02
Champion Author Colorado Springs

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Message Posted: Jan 18, 2013 9:22:57 AM

And the search for reasons to raise crude and gas prices continues.
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deputydog082
Champion Author Detroit

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Message Posted: Jan 18, 2013 9:15:25 AM

up go the prices!
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fowlcan
Champion Author Oklahoma City

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Message Posted: Jan 18, 2013 9:10:01 AM

The more you burn the bigger the bite in your wallet.
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cdrrod
Champion Author Wisconsin

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Message Posted: Jan 18, 2013 9:00:22 AM

And the Chinese said: "Pur cur chee" (you are welcome).



[Edited by: cdrrod at 1/18/2013 9:01:20 AM EST]
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Point__man
Champion Author Raleigh

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Message Posted: Jan 18, 2013 8:59:27 AM

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 ;)
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bills299
Champion Author Atlanta

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Message Posted: Jan 18, 2013 8:58:07 AM

Wow!
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FPLREP
Champion Author Virginia

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Message Posted: Jan 18, 2013 8:56:29 AM

The dragon can't make what it can't sell.
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