Wednesday, April 18, 2012

Where is global oil demand coming from?

The graphic below from Barclays Research, via Floating Path, captures the sources of global oil demand growth. As can be seen, Brazil, India, China, and Saudi Arabia (BICS) have been collectively responsible for most of the global demand in the past few years. In fact, almost the entire demand growth in 2011 and 2012 is estimated to come from them.

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