Brent Crude Of $80 Could Drag On Global Oil Demand
- May 28, 2018 -

According to the dow Jones of May 23, capital economics commodity economist Thomas alessandro?Global demand for oil is likely to slow next year as brent crude prices hover around a three-and-a-half year high of about $80 a barrel, he said."If oil prices remain at current levels or continue to rise, consumption growth could slow sharply in 2019," Mr Trump wrote in a report.He estimates that a 20 per cent rise in oil prices, the increase since the start of the year, could reduce oil demand in industrialised economies by as much as 1m barrels a day.Instead, he points out, if consumption growth slows, that is another reason to think prices will not stay so high for long.