Roadtofreedom
06/11/25 16:04
Ha respondido al tema
AzValor Internacional: seguimiento y opiniones
US oil demand continued flirting with levels above the pre-COVID era, as it did in 2024. For the first month of the year, it was below 2024 levels only in May and August, as shown in Figure 1. In general, US oil demand has grown YoY. Figure 1 shows trends in US oil demand since 2019, plotting 2019 and 2024 to compare this year to pre-COVID-19 levels and last year’s. US oil demand remains robust despite all the odds, including trade wars, tariffs, immigration issues, bans on visits from certain countries, and limits on students and H-1B visas. Since December, US oil demand grew by 269 kb/d. The average growth in the first eight months of the year was 174 kb/d YoY. This data is one of the most important in world oil markets today for the following reason: It debunks the IEA’s and others’ bearish narrative! It also shows that the bearish narrative is manufactured and doesn’t rely on facts. Initially, the IEA predicted that US oil demand would grow by 60 kb/d, which we criticized heavily. Recently it revised forecasts up to 90 kb/d. This is far lower than actual growth