Crude Reality: Oil Demand Growth Falls After Tariffs
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Crude Reality: Oil Demand Growth Falls After Tariffs
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About this listen
Oil demand growth outlooks have taken a heavy hit in recent weeks. In the wake of the Trump administration’s “Liberation Day” tariff announcements, US business and consumer sentiment tanked and global GDP expectations were trimmed, with knock-on effects for oil demand. On the other side of the globe, China’s demand for gasoline is falling fast, with domestic policy stimulating an already-buoyant electric vehicle sector. Yet these blows to demand come at a time when OPEC+ and other major oil producing nations are looking to raise production levels. So what does this mean for the global oil sector and the price of a barrel of oil? On today’s show, Tom Rowlands-Rees is joined by Wayne Tan, BloombergNEF’s head of oil markets research, to discuss the recent note “Oil Markets Monthly: Tariffs, OPEC+ Hike, Structural Shift”.
Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF on the Bloomberg Terminal or on bnef.com
Links to research notes from this episode:
Oil Markets Monthly: Tariffs, OPEC+ Hike, Structural Shift - https://www.bnef.com/insights/36245
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