Speculators Are Dragging Down Natural Gas

1. China and India drive oil demand- The story of oil demand growth is really a story about Chin and India. Together, they account for more than half of global demand growth. – China’s oil consumption is expected to grow by 440,000 bpd this year, slower than the 615,000 bpd from last year, according to IEA data that also includes petroleum products. – India has undershot forecasts in the last few years. Demand grew by 155,000 bpd in 2019 and is expected to grow by 170,000 bpd this year. – Total non-OECD demand growth is estimated at 920,000…