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Drop In Oil Prices Stimulating Demand

Crude Oil Demand 1987-2015

Our monthly analysis of global oil demand shows that the plunge in oil prices is stimulating usage, which suggests that the windfall is boosting economic growth around the world. Over the past 12 months through July, world oil demand rose to a record 94.6mbd, and is up 1.9% y/y, up from just 0.8% a year ago.

The growth rebound can be seen in both advanced and emerging economies. Oil demand was up 5.4%...