Retirement Travel Boosts Gasoline Demand, China Challenges OPEC+ Strategy

Posted: February 10, 2023

RP Weekly Recap | February 3-10


Domestically, due to an increase in retirement travel, boomers are driving a higher-than-expected rise in gasoline demand, making the demand more resistant to inflation. Retirement savings are prioritized for travel, and although gasoline demand may have peaked, a sharp decline is not anticipated. In other news, given that half of this year’s demand growth is being driven by a rise in Chinese consumption, OPEC+ may need to reevaluate its output strategy if China’s oil demand picks up. Due to the EU’s ban on Russian diesel and other petroleum products, OPEC+ is unlikely to keep oil prices below $80 per barrel.

Financial & Economic Updates

U.S. Oil Market News

Global Market News

Employment Updates

United States Rig Count

  • Up +2 rigs from last week for a total of 761
  • Up 19.8% from one year ago
  • Statistics courtesy of Baker Hughes


Content UpdatesNews PulsePodcast

Click below to subscribe to the RARE
PETRO Podcast Network or visit

The information contained in this newsletter is provided by RARE
PETRO Engineering, PLLC via the linked sources unless otherwise

Send Us a Message

Rare Petro Logo

1224 Washington Ave,
Suite 10
Golden, CO 80401

(720) 772-7371

Rare Petro Logo


Oil & Gas News Pulse


You have Successfully Subscribed!