IAE Projects Crude Oil Demand To Increase
$OIL
The Paris-based International Agency of Energy (IAE) Wednesday raised its earlier prediction of global Crude Oil demand in Y’s 2015 and 2016 “as economic growth solidifies and consumers respond to lower Oil prices”.
In its monthly report, the energy watchdog forecast that this year’s Crude Oil demand would stand at 1.6-M BPD, up by 200,000 BPD from the former prediction and set to reach “the fastest pace in 5 years”.
The IAE also expected an increase of 1.4-M BPD next year due to persistent strong economic climate.
After a record Y 2014 output, the agency expected world Crude Oil supply to stand at 1.1-M BPD, compared to last year’s 2.4-M BPD before contracting by 600,000 BPD in Y 2016.
Stay tuned…
HeffX-LTD
Paul Ebeling
The post IAE Projects Crude Oil Demand To Increase appeared first on Live Trading News.