Thursday, March 14, 2013

IEA Releases March Oil Report

Crude oil futures reversed their upward course in mid-February with benchmark Brent crude falling to nine-week lows by early March, the IEA Oil Market Report for March said. Amid a recent string of disappointing economic signals spanning several key economies, the latest report, released on 13 March, slightly lowered its estimate of global oil demand for 2013 compared to last month's report, to 90.6 million barrels per day (mb/d), implying overall year-on-year demand growth of 820 000 barrels per day (820 kb/d).

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