Commodities Weekly: Expectations for oil demand still too strong

The IEA and OPEC both lowered their oil demand forecasts this week, reflecting the impact of Trump’s trade war with the rest of the world, though those forecasts still appear overly rosy. Our base case forecasts are consistent with oil demand growth stagnating this year. This, alongside OPEC+'s plans to raise output, highlights that the downside risks to our oil price forecast are building.

Subscriber content

Read this in full, free

Start a free trial and use one of your 10 free starter credits to unlock this piece.


Free. 10 articles. No card required.
By completing this form you are agreeing to our Terms and Conditions for the provision of a free trial of Capital Economics' services. We take your privacy seriously and will not share your details with others without your consent. By providing your details, including your email address, you are consenting to Capital Economics sending you macroeconomic commentary and analysis. You can unsubscribe at any time. See our Privacy Policy for more information.

Already a client or trialist? Log in to read this.