IEA:Global Oil Demand Picks Up But Still Lags Rising Supply

By IEA, global oil demand is expected to pick up this year but supply is growing at a faster pace, leading to a rise in inventories in the first quarter of 2018. The IEA raised its forecast for oil demand this year to 99.3 million barrels per day (bpd) from 97.8 million bpd in 2017. The agency said it expected supply from non-OPEC nations to grow by 1.8 million bpd in 2018 to 97.9 million bpd, led by the United States, where crude output was forecast to rise by 1.3 million bpd during 2018 to more than 11 million bpd by the end of the year.

Share this post


Link to post
Share on other sites

Two days ago U.S. Department of Energy predicted american shale drillers will take aim at the seven million barrels-per-day mark next month, as U.S. oil production continues to hit new record highs. According to the same source, output from the nation's shale oil regions is poised to grow by 131,000 barrels a day next month.

Share this post


Link to post
Share on other sites

When the oil of USA grew the prices coming down !!! 

Share this post


Link to post
Share on other sites

This definitely does not bode well for prices. The market will react, even though it's just old news. 

Share this post


Link to post
Share on other sites
Sign in to follow this  
Followers 0