US EIA cuts forecast for 2017 world oil demand growth by 70,000 BPF

Technical Analysis

Author: Greg Michalowski | eia

Crude oil is trading up $0.24 to $48.30 currently

The EIA is out with their forecasts for demand

They say:
  • Cuts forecast for 2017 world oil demand growth by 70,000 BPD. 
  • Sees 1.35 million BPD year-on-year increase
  • Raises forecasts for 2018 world oil demand growth by 80,000 BPD,
  • Sees 1.69 million BPD year-on-year increase.