Planes, Trains and Trucks: Global Trade Boom Fires Up Oil Demand

For clues on accelerating oil demand, look to the seas and skies.

The strength of oil consumption took analysts by surprise last year, and played a big role in crude’s recovery to a three-year high in January. Demand this year could even turn out to be “way in excess” of 2017’s exuberant levels, Khalid al-Falih, the normally cautious energy minister of Saudi Arabia predicts. Data from industries like aviation, shipping and trucking suggest he might be right.

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