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Commodities Briefing - Categorized | Market Moves, Oil more

Global oil demand seen falling; ‘cocktail for weaker prices’

Posted on 31 May 2013

Lower demand, rising prices and higher inventories may see a drop in oil prices in the remaining part of this year and in 2014, the Bank of America Merrill Lynch has said. The Bank of America Merrill Lynch has cut down its global oil demand growth this year due to “slightly weaker than expected consumption in Europe and China”.
In a report released yesterday BOAML said lower global oil demand, rising supplies and higher inventories are “a cocktail for lower prices”………………………………………..Full Article: Source


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