IEA's Parry: China, Europe, India Lead Oil Demand Decline

IEA's Parry: China, Europe, India Lead Oil Demand Decline

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Matthew Perry, an IEA oil analyst, discusses shifts in oil demand and supply. The demand decrease is mainly due to reduced growth in China, Europe, and India. Despite a slight uptick expected in the fourth quarter, 2016's demand forecast is trimmed by 1 million barrels per day. OPEC's record supply levels are significant, with Saudi Arabia and other countries increasing output. China's economic changes, including reduced industrial demand and recent disruptions, impact oil demand. Future projections indicate continued global demand growth, driven by non-OECD countries, despite a slowdown from previous years.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was a significant factor in the change of oil demand forecasts in the third quarter?

Increased demand in the United States

Sharp pullbacks in China and Europe

Rising oil prices

Decreased production in OPEC countries

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which country is highlighted as having a major impact on global oil demand due to structural changes?

China

United States

India

Brazil

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What event caused temporary disruptions in China's oil demand?

New environmental policies

Economic sanctions

Heavy flooding and G20 meeting

Trade agreements

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is expected to drive future global oil demand growth?

Increased production in OPEC countries

Growth in the global vehicle fleet

Decreased efficiency in vehicles

Higher oil prices

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does the expected future oil demand growth compare to 2015?

It is expected to be the same

It is expected to fluctuate

It is expected to be higher

It is expected to be lower