supply and demand24 Jun 2019 02:24
plenty of medium to long term opportunity, the world is far bigger than the just the west
''The United States remains the world's top oil consumer, averaging 20.5 million BPD in 2018. China was second at 13.5 million BPD, although this would be far below the U.S. in per capita consumption. India was third at 5.2 million BPD. Both China and India have averaged oil consumption growth of at least 5% per year over the past decade.For 2018, the Review reported that the world set a new oil consumption record of 99.8 million BPD, which is the ninth straight year global oil demand has increased. Oil demand in 2018 grew by 1.5%, ahead of the decade-long average of 1.2% '' The broad conclusion is that 'peak oil demand' is not anywhere near close.....yet!