THE CGES OUTLOOK

摘要

Evidence is emerging that high oil prices are hitting oil demand growth and the phenomenon is not restricted to the OECD countries, which are seen as being most at risk. While initial data for 2Q11 suggest that quarterly average OECD oil demand has experienced its first year on year decline since 1Q10, demand growth in booming Asian economies also appears to be suffering, as worries about inflation begin to mount. Year‐on‐year growth in oil demand in the former centrally‐planned economies of China, the FSU and Eastern Europe is thought to have fallen to less than half of the 7.4% seen in the first quarter, averaging just 3.1% in 2Q11.