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In addition to lowering its forecast for world oil demand, the IEA warned its projections could...

  • Wednesday, November 14, 2012, 7:15 AM ET
    In addition to lowering its forecast for world oil demand, the IEA warned its projections could fall even further - a "big admission" for a group typically comfortable with erring on the high side, says VTB Capital. Monthly data also provide bearish numbers, with inventories rising in October (they typically fall) to 59.6 days of demand coverage. How is Brent holding above $100/barrel?
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  •  
    Oil demand lowering .....really ? I live in Uruguay a litle country in Latin America. Here, everybody is buying new cars and motorbikes. Very few run bicycles and the ones who bought motorbikes, if they have less money in their pockets, maybe they eat less, but they would not going to stop riding their motorbikes.
    Agribusiness and Forest are in an historic uuge. And because of them new trucks are on the road every day. We will need a real economic crash here to see people consuming less gasoline. For now, the economic slowdown in developed markets are not hurting local markets in Latin America. The same situation is happening in Brasil, Chile, Paraguay, Colombia and others. I think similar situations are happening in the bigger players as China, Russia, India, Australia, etc.

    So I don´t feel a lower demand in OIL in emerging markets.

    I might be very confused, but for me OIL demand is strong in emerging markets and if developed markets imporve, demand will be stronger.

    Regards
    Lic. Daniel Fernández Danvila
    External Asset Manager
    14 Nov 2012, 09:16 AM Reply Like
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