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Julian Lee
Verified
Oil Strategist, Bloomberg News
London
Beats
Business, Crime and Hard News
Content
By Alex Longley Verified, Grant Smith, Julian Lee| Bloomberg News Verified Oil analysts have raced to slash their forecasts for demand and prices in recent weeks amid the tariff turmoil, highlighting the threat that President Donald Trump’s trade war poses to the global economy. Banks, consultants and agencies have so far cut expectations for consumption this year by 320,000 barrels a day, according to the average of 12 estimates compiled by Bloomberg.
By Julian Lee| Bloomberg News Verified Lower flows combine with $9 price drop to hit export earnings. Russia’s oil earnings sank to their lowest since mid-2023, with exports sliding for a third week and prices plunging amid a US-China trade war. Crude flows from all Russian ports in the four weeks to April 13 fell to 3.13 million barrels a day, their lowest since February and about 320,000 barrels a day below their recent peak.
By Alex Longley Verified, Grant Smith, Julian Lee| Bloomberg News Verified Oil analysts have raced to slash their forecasts for demand and prices in recent weeks amid the tariff turmoil, highlighting the threat that President Donald Trump’s trade war poses to the global economy. Banks, consultants and agencies have so far cut expectations for consumption this year by 320,000 barrels a day, according to the average of 12 estimates compiled by Bloomberg.
Company Info
Bloomberg News
Bloomberg L.P. is a global financial data, software, and media company founded in 1981 by Michael Bloomberg and his partners. Originally named Innovative Market Systems, it rebranded to Bloomberg L.P. in 1986. The company is renowned for the Bloomberg Terminal, a proprietary platform that provides real-time financial data, analytics, and trading tools to over 350,000 subscribers worldwide. Bloomberg operates in three main areas: financial technology, news/media, and data analytics. Its flagship product, the Bloomberg Terminal, offers market data, news, and communication tools for financial professionals. Bloomberg News, with over 120 bureaus globally, covers financial markets, politics, and technology across various platforms, including digital, television, and print. The company also provides specialized data and analytics services, including legal and regulatory information, through its acquisitions. Bloomberg L.P. is privately held, with an estimated revenue of $12.5 billion in 2023, primarily from terminal subscriptions.
United Arab Emirates, United Arab Emirates
+1 212-318-2000
Founded: 1981