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.