Are high prices affecting oil demand? Report

Insight 23 June 2022

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The global oil demand recovery, which accelerated in Q4 2021, is facing strong headwinds this year amid a combination of high fuel prices, lingering Covid-19 restrictions in China, and economic sanctions on Russia. Tightness in the global refined products markets has led to high fuel prices that are occurring in the background of record-level broad price inflation. In this insight, we address the following topics: • Effect of high prices on Wood Mackenzie’s demand outlook for 2022 and 2023 • The countries/sectors where price-led demand erosion is occurring • Our summer driving season outlook for US and Europe • The role of subsidies/tax cuts in mitigating consumer price impacts</div>
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<p class="font-regular" >Are High Prices Affecting Oil Demand.pdf</p>
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