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Oil Demand
(in the years 2000 - 2015)
Let's track the world oil demand as another useful way to monitor the global economy. World crude oil usage rose to a record high of 89.5mbd in the year 2012 (Status: Sep. 2012 and 12 months before). While "Old World" demand remained depressed...
...at that time, "New World" demand already rose to a fresh record high. The latter exceeded the former by 39% ! (already). March 2005 was the inflection point where New World began to exceed Old World demand.
The next Figure, below, shows a the interesting shift: a shift in the way oil supplies were distributed, after the year 2000:
We see that China, Saudi Arabia, and India are all examples of countries with big increases in oil consumption. At the same time, there was the "fascinating scenario" >> that many of the developed countries (suddenly) found their oil consumption shrinking, rather than growing!
