Why Tourism and Tariffs Depress Oil Prices
Asked where fewer tourists could reduce demand, you and I would probably say hotels.It’s also oil. Oil Demand and Supply. Summarizing the data in its April 2025 industry report, the IEA (International Energy Agency) concluded that oil demand and supply growth had diminished. Tourism. Down by almost one-third, fewer Canadian tourists are crossing the border for a visit to the U.S. Similarly, we are welcoming a smaller number of people from Germany, the U.K., and Mexico. While the reasons could relate to recent U.S. “unfriendliness,” stricter border security, and domestic immigration enforcement, the results are less oil demand. ….[READ]
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