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Where oil demand is growingHow did OPEC get into this mess?

April 26, 2017DEMAND mess Oil opec

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Where oil demand is growingHow did OPEC get into this mess?

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Consumers in OPEC countries are becoming just as addicted to oil as their counterparts in the United States. According to the latest forecast from the International Energy Agency, oil demand from the world’s developed economies will fall by about 3 million barrels a day between 2007 and 2030. In that same period, the countries of the Middle East will be one of the three major sources of oil-demand growth in the world. Overall, about 43% of global oil-demand growth will come from China, according to the forecast, with India and the Middle East contributing 20% each.