oil demand

Latest news and articles about oil demand from NEX English

Oil Prices Decline Amid Ongoing Strife in Hormuz Strait

Oil prices have significantly dropped despite ongoing disruptions in the Hormuz Strait. Citigroup indicated that rising inventories and weak global demand have contributed to easing the upward pressure on prices.

Expect Oil Demand Destruction Amid Ongoing Iranian War

Reports indicate that the world is facing a severe oil supply shortage following five weeks of the Iranian war. Experts predict that policymakers may need to take emergency measures to significantly reduce energy consumption if the conflict continues.