EghtesadOnline: Global oil consumption ebbs and flows from one season to the next. So the current months of higher demand will be scrutinized closely for signs of whether production cuts from the Organization of Petroleum Exporting Countries and its allies are bearing fruit.

EghtesadOnline: The International Energy Agency expects global oil consumption to peak no sooner than 2040, leaving its long-term forecasts for supply and demand unchanged despite the 2015 Paris Climate Change Agreement entering into force.