Reuters with their daily oil summary
A couple of points I noticed:
- Barclays said there was no talk of a production cut during a research trip to Saudi Arabia
- Says the country's goal was to maximize its oil revenue by maintaining current production levels
- Said Saudi Arabia would likely keep production around 10.2 million bpd over the next five years
Deutsche Bank said that China might see lower than expected fuel demand growth from the 2020s:
- "Chinese oil demand growth, the largest single contributor to world oil demand growth, may begin to flatten more quickly than some long-term projections indicate"
- "This could result in world oil demand growth falling from its 2000-2016 trend of 1.1 million bpd year-on-year to only 800,000 bpd ... by 2024."
- A slowdown in China's oil demand would have significant impact on global crude prices as it has accounted for 37.5 percent of world oil demand growth since 2010
