Energy consumption and prices as volatile as ever
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In energy consumption the overall global picture is of fluctuating prices and increasing demand as economies grow. Oil stocks reached record levels in 2016 and OPEC and other producers are making a concerted effort to reduce stock levels by capping output. However this is balanced by accelerating shale oil production in the US.
Strengths and weaknesses
The International Energy Agency (IEA) predicts rising energy demand in 2018, albeit slower than economic growth. Pressure to use fossil fuels more efficiently is a factor here. Demand will, however, be relatively stagnant in Europe, rising slightly in the USA and slowing in China, reflecting the decelerating Chinese economy as a whole.
The energy sector is famously unpredictable and vulnerable to factors such as hurricanes in the Gulf of Mexico and politics in the Middle East. The case for protecting businesses with the Coface combination of credit insurance and insightful business intelligence is clear.
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