It used to be that any discussion of oil prices was based on what were the needs of the United States and other G7 countries. Now the focus has shifted to energy usage in emerging markets. The developing world will now overtake the industrialized world with energy demand. The IEA states that oil demand for non-OECD countries will outstrip OECD countries next year.
If you want to forecast energy prices, more analysts are going to have to follow the developments in countries outside of the G7.
If you want to forecast energy prices, more analysts are going to have to follow the developments in countries outside of the G7.
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