Demand for OPEC's Oil would Drop Far Below its Output
MarquisToddCrude oil prices steadied in European session after the sharp selloff yesterday (WTI: -4.51%; Brent: -3.89%). Yet, the benchmark contracts have stayed in multi-years' lows. The OPEC cut its 2015 oil demand forecast to the lowest in 12 years while the DOE/EIA inventory report showed an surprisingly buildup of crude stockpile amidst the rise in imports.
Read the rest here:
Demand for OPEC's Oil would Drop Far Below its Output
