“Why do you think the global oil demand is stagnating?”
Because the IEA has been saying so, for months.
“IEA estimates that global oil demand will be weaker in 2015 than previously anticipated and supply from countries not part of the Organisation of the Petroleum Exporting Countries (OPEC) will be bigger.
The agency said consumption will grow by 230,000 barrels a day less than it estimated last month, while output from non-OPEC countries will grow at a quicker pace than IEA predicted in November.
It comes after OPEC cut is forecast for global oil demand in 2015.”
http://www.ifamagazine.com/news/europe-close-stocks-slide-as-oil-prices-drop-310508
Sorry, I wasn’t clear.
I wasn’t expressing doubt it was happening.
I was asking the cause. It is the downturn of other countries economic strength. Same causes for the 2009 drop in prices, although the US was deep in it than today.