FGE's current oil market view
October 22, 2014
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Our latest update of the global oil supply/demand outlook confirms our earlier bearish view; if anything, it is now even more negative.
If key OPEC members continue with their output at current levels, then we project that there could be a contra-seasonal stockbuild in the fourth quarter of this year, with OECD company stocks possibly rising in this period for the first time since 2008…Dated Brent is now just below our forecast of $90/bbl for October and, as long as OPEC members maintain output, there could be a further sharp downside to prices.
As featured in FGE's newly updated "World Oil Market Report, 14th October 2014", part of the Short-Term Global Oil Market Service. If you are interested in obtaining a sample copy of FGE's updated World Oil Market Report, please contact Marketing (details below).
Further information on FGE's Short-Term Global Oil Service can be found online by clicking on the link below.