There’s a bullish outlook for oil even though there are a growing number of potential factors that could undermine demand in coming years. Despite these problems from trade wars, Brexit and China’s slowing growth rate, the International Energy Agency (IEA) still sees global oil consumption rising 6% over the next five years. And it sees the US as being the one producer with the capacity to meet that six million barrel a day rise. Total oil demand will increase from 100.6 million barrels a day (b/d) in 2019 to 106.4 million b/d in 2024. Jet fuel, as a growing number of people around the world travel by air, and petrochemicals, which are used in plastics, will keep oil demand robust, the IEA said. But the Agency said that despite all the possible hiccups and barriers, there no sign of a peak in oil demand. “While global oil demand growth […]