Inventories of crude oil jumped last week due to a surge in net imports, despite record demand from refineries. Even though consumption is strong at the minute, we expect a slowdown in US economic growth to weigh on demand in 2019 and 2020. Combined with rapid supply growth, this should put further downward pressure on oil prices.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services