Mon12222014

Last updateMon, 22 Dec 2014 1pm

Back You are here: Home News Industry Headlines End-User News IEA Lowers 2013 Global Oil Demand Estimate Following IMF Move

End-User News

IEA Lowers 2013 Global Oil Demand Estimate Following IMF Move

Crude oil futures breached nine-month highs in early February, propelled by stronger economic signals from China and the United States, robust financial market activity and cold weather in the Northern Hemisphere, the IEA said in its February Oil Market Report, released on Tuesday.

The report slightly lowered its estimate of global oil demand, to 90.7 million barrels a day (mb/d) in 2013, following downward revisions to the International Monetary Fund's (IMF) forecast of economic activity, while the global demand estimate for the final quarter of 2012 was trimmed by 210 kb/d to 91.0 mb/d on weaker data for Saudi Arabia and the hurricane-hit United States.

Global oil supplies fell 300 000 barrels a day (300 kb/d) in January, to 90.8 mb/d, according to the report. Non-OPEC supplies fell by 190 kb/d to 54.2 mb/d. OPEC crude oil production was estimated at 30.34 mb/d, down 100 kb/d month-on-month, near 12-month lows after higher output from Saudi Arabia and Kuwait failed to mitigate declines elsewhere.

New Products

 

Valve Magazine Digital Edition

14 FALL CVR 160x214Inside the Fall 2014 issue…

• Market Outlook 2015
• Enhanced Oil Recovery
• Combined Cycle Power Plants
• Critical Role of Flanges

CLICK HERE TO REQUEST YOUR
DIGITAL EDITION PREVIEW EMAIL

deca durabolin buy buy steroids credit card online test and dbol test and tren stanozolol weight loss