Cheap Gasoline is Boosting Global Demand

By Unknown

Rabu, 18 Mei 2016

Cheap Gasoline is Boosting Global Demand

World oil markets seem to have declined in balance thanks to strong growth in fuel consumption and a series of major disruptions of supply major crude-producing nations.

soaring consumption motorists of cheap gasoline in the United States and in some large emerging economies, including India and Mexico, will help boost global demand for oil over 1 4 million barrels a day in 2016.

consumption had increased by 1.8 million barrels per day in 2015 and is expected to increase to over 1.0 million barrels per day the next year, marking the largest and most sustained demand since before the financial crisis.

the supply side, US oil production to fall by 700,000 barrels per day between 2015 and 2016, falling prices curb shale drilling on land.

and a lengthening list of supply disruptions from Libya, Nigeria, Venezuela and Canada among others increased to more than 3 million barrels per day.

Although stocks of crude oil and fuels remain abnormally high following heavy overproduction in 2014 and 2015, they are no longer increasing.

The passage of oversupply in the market balance is evident in the relationship between futures prices close and delayed.

via Reuters

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