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Global crude oil markets in 2013 to see demand growth of 1.08 mb/d y/y: Barclays

Posted on 25 February 2013

Global crude oil markets in 2013 are likely to be marked by healthy demand growth to the tune of 1.08 mb/d y/y and a non-OPEC supply profile that continues to lag (+0.51 mb/d y/y), stated London based Barclays in its latest weekly update.
This week the market saw a shift in directional momentum in crude oil. The first half of the week saw a pause in the upward drift, with the front-month Brent contract moving sideways around the $117/bbl range, while the latter half of the week saw prices edge lower. A combination of fading geopolitical headlines and shifts in macroeconomic sentiment has contributed to the weakness at the prompt………………………………………..Full Article: Source

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