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Saturday, November 06, 2010 5:51:29 PM
According to the Oil Market Report released in September 2010 by The International Energy Agency (IEA), Global oil demand is projected to average 86.6 mb/d in 2010 and 87.9 mb/d in 2011. 2010 readings were revised marginally higher based on stronger data from OECD (Organization for Economic Co-operation and Development) countries. The report also projects global oil demand to grow by more than 25% in the coming 20 years:
For the short-term, investors are better off keeping an eye on market trends, geopolitical risk, credit issues while for the long-term, investors would consider the correlation with overall global growth and economic recovery, improved industrialization and growing oil demand from India and China.
This is not an offer to buy or sell securities or any kind of investment advice. Oil investment carries very high risks so do your own due diligence before and consult a licensed professional making any decisions.
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