The Risky Road To Oil Demand Recovery

The IEA came out with a rather bullish remark for oil this morning, stating that peak demand is still years away. The agency’s chief Fatih Birol said that “In the absence of strong government policies, a sustained economic recovery and low oil prices are likely to take global oil demand back to where it was, and beyond,”. While there’s reason to be optimistic about the demand recovery in oil, given new data on oil consumption from China and the U.S., a full recovery could take much longer this time around compared to the…