IEA sees diminished seasonality in oil market

The traditional second-quarter slump in global oil consumption isn't what it used to be.In the industrialized world, represented by members of the Organization for Economic Cooperation and Development (OECD), average quarterly demand drops to its lowest level each year in the period between the Northern Hemisphere's heating and driving seasons.From oil companies to the Organization of Petroleum Exporting Countries, therefore, anticipation of a second-quarter market lull has always been fundamental to planning.In the non-OECD world, however, demand usually doesn't drop in the second quarter. And it's there that consumption is growing most rapidly (Fig. 1). Click here to en...

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