The European Recession and Global Oil Demand 2012

From seekingalpha.com

Oil fundamentals including demand remain an important determinant of oil prices. What do recent economic forecasts for Europe, China and the EU for 2012 mean for oil demand? Macroeconomic forecasts for 2012 Here I review the forecasts of two authorities on global economic affairs, IHS and the IMF. This is summary for the IHS (2011): “If Europe only suffers through a mild recession and China does not experience a hard landing, then world real GDP growth will slow from 4.2% in 2010 and 3.0% in 2011 to around 2.7% in 2012. On the other hand, if the recession in Europe is much deeper and/or the ... (full story)