# Oil demand flashes red, sending crude prices even lower

> Oil prices fell sharply after an oversupply shock attributed to U.S. shale output, limited OPEC production cuts, and U.S. sanctions waivers for Iranian oil. Signs are growing that oil consumption is slowing in China, India and other emerging Asian economies, which account for two-thirds of global demand growth. The U.S.-China trade dispute and eurozone protests in France add further downside risk to demand.

- Date: 2018-12-20 · published 2018-12-20T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/11080-oil-demand-flashes-red-sending-crude-prices-even-lower
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A slowdown in demand from the main sources of growth removes support for crude prices, reinforcing bearish pressure on energy markets and easing fuel and freight costs for feed buyers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-03-05 | [Declining crude oil and vegetable oil prices lower prices for sunflower seeds and oil in Ukraine](https://feedsoft.ai/events/11140-declining-crude-oil-and-vegetable-oil-prices-lower-prices-for-sunflower-seeds.md) | -2.9% | +4.5% |
| WTI | 2023-08-21 | [Crude oil settles lower as hope fades for Chinese demand](https://feedsoft.ai/events/34761-crude-oil-settles-lower-as-hope-fades-for-chinese-demand.md) | -1.2% | +12.6% |
| WTI | 2024-09-18 | [Crude oil prices today: WTI, Brent lower as Fed cuts rates](https://feedsoft.ai/events/28216-crude-oil-prices-today-wti-brent-lower-as-fed-cuts-rates.md) | +0.3% | -1.2% |
| WTI | 2024-10-16 | [Oil prices hold at 2-week low on lower oil demand growth forecasts](https://feedsoft.ai/events/28030-oil-prices-hold-at-2-week-low-on-lower-oil-demand-growth-forecasts.md) | +2.2% | -3.8% |
| WTI | 2024-05-30 | [Crude Prices Weighed Down by Energy Demand Concerns](https://feedsoft.ai/events/30418-crude-prices-weighed-down-by-energy-demand-concerns.md) | -6.5% | +3.4% |
| BRENT | 2025-03-05 | [Declining crude oil and vegetable oil prices lower prices for sunflower seeds and oil in Ukraine](https://feedsoft.ai/events/11140-declining-crude-oil-and-vegetable-oil-prices-lower-prices-for-sunflower-seeds.md) | -1.6% | +6.2% |
| BRENT | 2023-08-21 | [Crude oil settles lower as hope fades for Chinese demand](https://feedsoft.ai/events/34761-crude-oil-settles-lower-as-hope-fades-for-chinese-demand.md) | -0.5% | +11.0% |
| BRENT | 2024-09-18 | [Crude oil prices today: WTI, Brent lower as Fed cuts rates](https://feedsoft.ai/events/28216-crude-oil-prices-today-wti-brent-lower-as-fed-cuts-rates.md) | +1.5% | -0.2% |

## Sources

- thestar.com: https://www.thestar.com/business/oil-demand-flashes-red-sending-crude-prices-even-lower/article_ad76ae29-ee88-5f1b-9434-f53aa4c88885.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.