Concerns Over Demand No Match for Mideast Political Instability

摘要

Concerns about political instability in the Middle East continued to trump the impact of high crude oil prices on global demand in April, despite signs of demand destruction becoming more apparent. Front-month ICE Brent averaged $123.09 per barrel in April, an $8.42/bbl increase over March, despite an apparent global surplus of 200,000 barrels per day based on preliminary estimates by International Oil Daily sister publication Oil Market Intelligence.