China, US simply decide oil market's trend - Focus discussion - People Forum: "The U.S. summer driving season starts next week amid predictions that gasoline consumption in the U.S. will be lower than last year as squeezed motorists cut back due to high prices.
The U.S. summer driving season starts next week amid predictions that gasoline consumption in the U.S. will be lower than last year as squeezed motorists cut back due to high prices. Fear that this phenomenon will diminish overall oil demand has been a big factor in the recent fall in international oil prices from their April high of $127 a barrel.
However on the other side of the world, industry observers see the opposite situation due to the threat of electricity shortages in China. If power supply is tightly rationed this summer and the Chinese turn to backup oil-fired generators as they have in the past, oil demand may be significantly higher than previous predictions."
The U.S. summer driving season starts next week amid predictions that gasoline consumption in the U.S. will be lower than last year as squeezed motorists cut back due to high prices. Fear that this phenomenon will diminish overall oil demand has been a big factor in the recent fall in international oil prices from their April high of $127 a barrel.
However on the other side of the world, industry observers see the opposite situation due to the threat of electricity shortages in China. If power supply is tightly rationed this summer and the Chinese turn to backup oil-fired generators as they have in the past, oil demand may be significantly higher than previous predictions."
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