Economic Report

Oil demand to peak at 104.4 million bpd

World oil demand will peak at 104.4 million barrels per day (bpd) in the mid-2030s, up from just below the current 100 million bpd. It shall be so as new technologies gradually eat into oil use, China’s Unipec said on Monday at the annual Asia Pacific Petroleum Conference (APPEC) in Singapore. Unipec President Chen Bo […]

Economic Report

Oil prices rise to $70

Oil prices were firm on Wednesday, receiving ongoing support from healthy economic growth as well as from supply restrictions led by a group of producers around the Organisation of the Petroleum Exporting Countries (OPEC) and Russia. Spot Brent crude oil futures, the international benchmark for oil prices, were at 70 dollars a barrel at 0102 […]