Asian Oil Demand To Hit Record - The Price Per Barrel Continues To Grow

Asian oil demand will hit a record in April just as global crude values are lifted to levels not seen in three years by Middle East supply risks and top exporter Saudi Arabia withholding output and noisily pushing for prices at $80 to $100 per barrel. By end-April, China will likely have taken in more than 9 million barrels per day (bpd) of crude, its most ever. That’s nearly 10 percent of global consumption and more than a third of Asia’s overall demand. At $75 a barrel, it implies monthly import costs for China of more than $20 billion. Yet a much more fundamental reason has also sparked oil’s bull run: Asian demand, which Goldman Sachs said this week points to an average price of $80 a barrel in 2018.
 

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Excellent news for the end of the week. Have a nice weekend...

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Prices are so high and it's not good. Too much from Saudi Arabia and OPEC

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My local Michigan gas station has gone up .45 cents a gallon from my previous fill-up. In just a few days.

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The world is floating in oil...Brent oil could hit $ 80 a barrel. It's a in direct link with the possibility of the U.S. and Europe impose sanctions on Iran and the latest events in Syria.

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The whole of "oil community" will benefit of increase oil prices. Without exception. So be prepared for more expensive living expenses...

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Don't forget Russia. Higher oil prices will help their government to make further progress in rebuilding its fiscal savings and neutralize sanctions...

 

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On 4/21/2018 at 11:35 PM, FoxyCleopatra said:

 Time to buy a Tesla 

@FoxyCleopatra only bummer is that we'll have to wait to get ours made. Hopefully Tesla figures out their production hell soon!

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37 minutes ago, CMOP said:

@FoxyCleopatra only bummer is that we'll have to wait to get ours made. Hopefully Tesla figures out their production hell soon!

It's a shame, really. Tesla missed a window here. Tesla should be seizing the demand that it is being thrown by higher oil prices. Instead, it is still languishing in its own incompetence. Watch Tesla get it together just as oil prices fall again. 

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