Energy Aspects: Crude Oil Demand Not Declining In Recession Pattern

Global oil demand is not declining in a pattern that would be consistent with a recession, and demand will still grow next year from this year despite expected slowdowns in Europe and the United States, Amrita Sen, director of research at Energy Aspects, told Bloomberg on Friday. There is still a lot of pent-up demand following the reopening after COVID lockdowns, and people generally still have a lot of savings, Sen said.

Energy Aspects’ research director was discussing fears of a recession and the oil market a day after the advance estimate…