Oil

Oil demand in 2017 continued to be driven by oil importers benefitting from the windfall of low prices, with both Europe (0.3 Mb/d) and the US (0.2 Mb/d) posting notable increases, compared with average declines over the previous 10 years

To put the recent strength of oil demand in context, average growth over the past five years is at its highest level since the height of the commodity super-cycle in 2006-07. This was despite all the talk of peak oil demand, increasing car efficiency, growth of electrical vehicles.
Spencer Dale, chief economist

Oil demand growth (annual change, mb/d)

Oil demand growth (annual change, mb/d)

Oil supply growth (annual change, mb/d)

Oil supply growth (annual change, mb/d)

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