Free Trial

Global oil demand could surge 3-4mbpd next year: Andurand

OIL

Global oil demand could surge 3-4mbpd next year if the world fully recovers from covid restrictions according to hedge fund trader Pierre Andurand.

  • A recovery to the longer term trend since 1983 would see an increase of 4.6mbpd vs 2022 however demand may not recover to that extent.
  • The growth of 35m new EVs from 2019 to 2023 represents a 600kbpd loss of demand and the impact of the Russia invasion Ukraine could impact demand by up to 300kbpd.
  • Increased travel post covid and higher gas to oil switching may add to oil demand in 2023.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.