25.03.2015 - Global demand to help oil prices despite U.S. glut-senior Gulf OPEC delegate
Stronger-than-expected global oil demand should help support crude prices at around $55-$60 a barrel in the next two months despite some signs of a growing glut in the United States,? a senior Gulf OPEC delegate told Reuters on Tuesday. The comments appear to counter some market forecasts that the U.S. oil glut may push prices to as low as $20-$30 and are a sign that the core Gulf OPEC members remain confident about their strategy of defending market share. "Global demand is definitely growing much stronger than expected. In December, January, and especially February ?it was beyond what forecasts anticipated," the delegate said...............................................Full Article: Source
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