Inventories, Economy Still Expected To Affect Demand

摘要

Since dropping dramatically through the second half of 2008, crude oil demand and prices appear to have stabilized somewhat, says a National Energy Board (NEB) analysis.rnThe NEB report suggested that crude inventories in the three major Organization of Economic Cooperation and Development (OECD) markets are near the 20-year highs seen in 1999, but inventories relative to demand show that supply coverage is even higher.rnThe analysis said that as the market enters the lowest demand period of the year, "with already very weak global demand," the decision of by the Organization of Petroleum Exporting Countries (OPEC) on March 15 not to cut supplies may lead to further inventory builds in the coming months.