Oil markets will face ‘serious problems’ as demand from China and India ramps up

Oil markets will face ‘serious problems’ as demand from China and India ramps up

According to an official from the International Energy Forum, oil prices are expected to increase in the latter half of the year due to a supply-demand imbalance. Joseph McMonigle, the secretary general of the International Energy Forum, attributes this upward trend in oil prices to the growing demand from major consumers like China and India, trailing closely behind the United States. During a conversation with CNBC, McMonigle also discussed the liquified natural gas market and pointed out that Europe's energy market has maintained stability, thanks to a milder-than-anticipated winter in 2022.