Large Crude Surplus Continues, Developing World Boosts Demand

摘要

The first quarter saw an atypical oil supply surplus despite relatively cold, if sporadic, weather in the Northern Hemisphere, according to preliminary March supply demand assessments by International Oil Daily sister publication Oil Market Intelligence. While quarterly demand moved sideways, on offsetting OECD declines and modest non-OECD quarterly changes, supply grew by more than 1 million barrels per day, turning a 130,000 b/d fourth quarter deficit into a 400,000 b/d surplus.