3min chapter

Bloomberg Opinion cover image

Oil Peak? Consumer pique?

Bloomberg Opinion

CHAPTER

What's Happening With Road Transport Fuel Efficiency?

Most mainstream forecasts look at a peak in oil demand around the sort of 103 million barrels a day mark. BP have the same numbers, total energies, we're not very far below that mark at this stage. Jerome Powell comes in and why it's his fault? Absolutely. A large slice of inflation is being caused by energy prices. The Federal Reserve is weakening the economy to the point where the sort of weakened supply of oil and energy generally that we have is sufficient to meet the demand in the economy. We are not seeing significant boosts of oil production from anywhere. So there is no constituency either monetary or on the oil production side that is actually trying to meet levels of demand above what those fairly

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