Skip to main content

Oil demand growth to stagnate, not collapse

In this Energy Watch, we assess whether concerns about oil demand during a recession are justified. The macroeconomic backdrop has deteriorated substantially and we expect the global economy to topple into a recession. But oil demand has been relatively inelastic with respect to income in recent history. So, on balance, we think oil demand growth is set to stagnate, rather than fall off a cliff, over the next year or so.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services


Get access