Forecasting China's Role in World Oil Demand

Deepa Datta and Robert Vigfusson

FRBSF Economic Letter, 2017

Abstract: Although China?s growth has slowed recently, the country?s demand for oil could be entering a period of faster growth that could result in substantially higher oil prices. Because Americans buy and sell oil and petroleum products in the global market, global demand prospects influence the profitability of U.S. oil producers and the costs paid by U.S. consumers. Analysis based on the global relationship between economic development and oil demand illustrates the prospects for Chinese oil demand growth and the resulting opportunities and challenges for U.S. producers and consumers.

Date: 2017
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