Oil Prices - Feb 27
Posted: Sat Feb 27, 2016 11:06 am
At the end of the last major oil price cycle (2010) IEA started the year with their annual guess that demand would go up by 1.0 million barrels per day that year. When the year ended, demand had actually increased by 3.3 million barrels per day. I believe IEA is once again underestimating the impact of low fuel prices on demand growth. Read the article at the link below.
http://www.oilandgas360.com/rising-gaso ... dium=email
First quarter is always the lowest period of demand each year and this year is no exception. However, the weekly storage reports should be more encouraging by May as refiners ramp up production of transportation fuels.
http://www.oilandgas360.com/rising-gaso ... dium=email
First quarter is always the lowest period of demand each year and this year is no exception. However, the weekly storage reports should be more encouraging by May as refiners ramp up production of transportation fuels.