- But it appears there’s no clear consensus on a supply cut
- Return to previous price highs may not be a close prospect
- We have begun a new chapter in the history of oil markets
- Our supply/demand forecasts indicate downward oil price pressure could build further in H1 2015
- October output fell 150kbpd to 30.60mbpd, lower supply from Kuwait, Iraq & Saudi Arabia
- Global oil demand in 2015 to rise by 1.13mbpd (unch prior forecast)
- OPEC crude to fall (seasonally” by 1.3mbpd from Q4 2014 to Q1 2015
Oil is getting slammed again today with WTI taking a dive down to 73.25 and Brent has been down to 76.76 but has rebounded to 78.00
