In the oil world, just like everywhere else, the sun rises in the East. Oddly, it may set there, too. Friday sees the release of the International Energy Agency’s monthly oil-market report. Many will focus on what the IEA has to say about supply, particularly from U.S. shale. But in a week where China’s stock market showed all was far from well in the world’s emerging market-in-chief, oil investors shouldn’t forget demand. In the July report, the IEA will release its first monthly forecast of what oil demand will be in 2016. In February, when the agency released its annual five-year outlook, it projected global demand next year at 94.47 million barrels a day, up from 93.34 million projected for 2015. These numbers move around a lot. A year ago, the IEA’s first forecast for demand growth in 2015 was 1.41 million barrels a day. By January, that had […]