Dallas Fed Pres Says World Needs To Consume Less Oil And Gas

AI Summary

The Dallas Federal Reserve President Lorie Logan stated that global consumption of oil and natural gas must be reduced to stabilize volatile energy markets due to physical supply constraints, anticipating eventual market balance with possible lower demand.

Federal Reserve Bank of Dallas President Lorie Logan says that the world may eventually have to reduce its consumption of oil and natural gas to bring volatile energy markets into a balance. Speaking at a closed-press conference, Logan emphasized the reality of physical supply constraints, noting that the current rate of oil and gas consumption is not sustainable. Logan expects energy markets to stabilize before too long, though it may force a downward adjustment in global consumption. The Bank of Dallas chief did not provide near-term economic…