Publications: The Petroleum Economics Monthly

Improving Knowledge of the Current Supply-and-Demand Situation (May 2015)


This issue of The Petroleum Economics Monthly begins by introducing a group of short-term “energy indicators” being compiled by PKVerleger LLC to facilitate the efforts of anyone attempting to stay as current as possible regarding oil market supply and demand. We have identified and now offer this list of indicators because the world’s key energy organizations do not provide up-to-date market information in the way other economic agencies do.


Section II of the report assesses the changing characteristics of energy demand. Economists tend to model energy use like almost any other good. One of the first studies to examine the role of price and income as determinants of energy demand, published forty-two years ago by this author, may have started the trend. Today, it is time to reexamine the basis for determining energy demand because consumer preferences, as they always do, are changing.


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