Matt Parry, IEA senior oil economist, told MarketWatch that the key takeaway from the report is that global oil demand growth is “slowing very sharply.”
Year-over-year demand growth for the third quarter of 2015 was at 2.3 million barrels a day, he said. That is down to growth of 1.6 million in the first quarter of this year, 1.4 million in the second quarter and, “worryingly,” a projected growth of 800,000 barrels in the third quarter of this year, he said.
Based on the forecasts, “both Chinese and European oil demand growth have all but vanished by 3Q16,” said Parry.
Oil and Energy stocks
Emerging Market stocks and Energy stocks
Junk bonds and oil
As investors continue to chase yield anywhere they can get it, the high-yield bond sector remains red hot, despite sharply higher risk levels.
Exxon is the only remaining profitable Oil stock
Bonus Chart:
Retail
