Jeffrey Rubin
Jeffrey Rubin
coming demand global growth huge income percent price relationship uncertain virtually
About 42 percent of the growth in global demand is coming from China, where there is virtually no price sensitivity to demand. There's a huge relationship to income growth there, but a very uncertain relationship to price at all.
barrels estimate higher impacts million next per squeezed year
We estimate that 1.8 million barrels per day of consumption must be squeezed out next year through the impacts of higher prices.