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Commodities Briefing - Categorized | Market Moves, Oil more

Analysts says OPEC must cut supply to balance oil markets

Posted on 16 October 2012

Analysts at Canaccord Genuity believe the apparent supply demand balance in the oil markets is a result of “non-recurring” demand.
“In our view, the preponderance of this imbalance the first half of the year was absorbed by non-recurring storage that includes the Chinese SPR (80 Mmbbls), Saudi Arabian stocking prior to the institution of Iranian sanctions (40 Mmbbls) and Iranian floating storage (20 Mmbbls),” said an analysts at Canaccord………………………………………..Full Article: Source


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