Will $100 Oil Finally Bring About Demand Destruction?

Author: External Author | | Categories: Gas Well Optimization , Horizontal Check Valve , Offset Well Monitoring , Oil Well Optimization , Oilfield Service Company , Oilfield Services , Oilfield Swabbing , Plunger Lift Installation , Slickline Services , Surface Casing Vent Monitoring , Well Pressure Monitoring

  • Brent hit $90 per barrel last week and plenty of banks and oil majors now believe we will see $100 oil this year.
  • If oil does continue to climb, demand growth will likely slow and central banks may hike interest rates more aggressively. 
  • Predictions of oil demand destruction at $80 never materialized and gasoline consumption in the U.S. isn’t slowing down, but that may soon change.

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Original Article Source Credits: oilprice.com, https://oilprice.com

Article Written By: Tsvetana Paraskova 

Original Article Posted on: Jan 31, 2022

Link to Original Article: https://oilprice.com/Energy/Energy-General/Will-100-Oil-Finally-Bring-About-Demand-Destruction.html