Blindsided By Demand

Autumn in the northeastern US is marked by a symphony of swirling, multicolored leaves shed from their host trees. But lately, leaves are not the only things that are falling. Petroleum demand in the US, which has slowly withered since the end of last year, entered a slippery decline stage this past September – well after July’s peak in crude oil’s price. How long demand will languish at present levels or will it sling-shot back now that prices have fallen are questions perplexing the oil industry.