23-04-2025
Crude Reality: Oil Demand Growth Falls After Tariffs
Oil demand growth outlooks have taken a heavy hit in recent weeks. In the wake of the Trump administration's 'Liberation Day' tariff announcements, US business and consumer sentiment tanked and global GDP expectations were trimmed, with knock-on effects for oil demand. On the other side of the globe, China's demand for gasoline is falling fast, with domestic policy stimulating an already-buoyant electric vehicle sector. Yet these blows to demand come at a time when OPEC+ and other major oil producing nations are looking to raise production levels. So what does this mean for the global oil sector and the price of a barrel of oil? On today's show, Tom Rowlands-Rees is joined by Wayne Tan, BloombergNEF's head of oil markets research, to discuss the recent note 'Oil Markets Monthly: Tariffs, OPEC+ Hike, Structural Shift'.
