Demand has been going down, just like the value of the dollar.
Except that demand hasn't been going down. While domestic demand has declined, total demand has increased.
Before you lie again provide a source to support your opinion
Oil drops again amid fears of slowing demand
Oil drops again amid fears of slowing demand | Reuters
Even Huffy Puffy the liberal mouth piece is worried
Oil down to near US$106 as China trade slowdown suggests demand could wane
Oil down to near US$106 as China trade slowdown suggests demand could wane
Fears of a decrease in demand. Demand increased in both 2010 and 2011.
World oil demand continued to recover, though at a slower pace. World oil demand increased by 0.9 million bpd in 2011 after a strong increase of 1.6 million bpd in 2010. European sovereign debt crisis, Arab Spring and Earthquake in Japan were the major factors which kept a lid on world oil demand growth. The recovery in 2011 and 2010 came after a steep decline in 2009 by 1.4 million bpd and a slight decline in 2008. The decline in 2008 was the first decline in oil demand since 1983 reflecting the impact of the global financial crisis and the ensuing recession.
And the reason why...
Bulk of the world oil demand growth is expected to have come from China. With the Chinese economy growing at 9.2 percent in 2011, it was no surprise that contributed around 55.0 percent to the overall world oil demand growth, the report noted.
Saudi Gazette - World oil demand continues to recover, though at slower pace