| Some numbers in the global oil supply/demand balance have shifted fairly dramatically in just one month’s time, possibly putting an end to the big world inventory build. You can look at numbers until you are cross-eyed. But if you’ve only got a minute to analyze, you look at what the International Energy Agency says is the call on OPEC crude, and you compare that to what OPEC actually is producing.
The call is calculated by taking IEA’s estimate of global demand, subtracting its estimate of non-OPEC supply, subtracting its estimate of OPEC NGL production, and you have the call...............................................Full Article: Source
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