Growing demand stretches supply

摘要

Oil prices have climbed above us70/bl as the industry struggles to cope with rising demand. Strong demand is once again driving the oil market,after a brief respite in the fourth quarter of last year when growth stalled after the post-hurricane price spike.The global economy remains robust despite high energy prices (see p3).Argus expects global demand to increase by 1.4mn b/d this year- double last year's rise.