The BP energy outlook says that global oil demand growth has been at the highest level for the fifth year running since the super-cycle of the 2006.
Strong demand growth over the last financial year saw crude rise by around 1.7 million barrels a day, which equates to about 1.6% year-on-year.
This demand continued into the new calendar year in 2018.
Crude prices trended upwards over the last six months from around US$60 per barrel for Brent, to a range between $70 and $80 bbl.
"The strong performance of the oil price over the last eighteen months has surprised us in scale, but not in direction," the BHP economic ...