Investment banks Goldman Sachs (NYSE: GS) and BofA-Merrill Lynch (NYSE: BAC) estimate oil demand will hit nearly 87 million bpd. Deutsche Bank (NYSE: DB) forecasts oil demand at 86 million bpd, noting that recovery will not be in energy-intensive or oil-intensive sectors. (Reasons why the oil run may not be over).
Oil demand growth is expected to be strongest in countries outside the Organization for Cooperation and Development (OECD), with China taking up a large piece demand. (Play the world’s hunger for energy).
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- United States Oil (NYSEArca: USO): up 16.6% year-to-date
- PowerShares DB Oil (NYSEArca: DBO): up 40.7% year-to-date
Max Chen contributed to this article.