What does this sentence mean?
The firm estimates that oil demand growth in the country is down to 200,000 barrels per day for 2024 compared to last year, with overall consumption down by 300,000 barrels a day.
Is oil demand growing or not?
this post was submitted on 21 Aug 2024
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I can't find the original Goldman Sachs article anywhere, so I assume that it's not available free, but Reuters phrases it as "Goldman estimates a sharp slowdown in China oil demand year-over-year growth to 0.2 million barrels per day in the first half of 2024 and a year-over-year decline this summer." Based on that and how the Business Insider one contradicts itself, I assume that BI fucked up somewhere and the actual story is what Reuters said: demand growth has slowed to 200k barrels per day, and is expected to hit zero and then decline some time this year. The 300k per day number might be the prediction for how much lower demand will be at the end of the year compared to the end of last year, but Reuters doesn't say anything about that one
Thanks, this seems plausible
it's growing but not as much as before and it'll peak sooner than expected.