Oil prices rise as dollar slips

First-quarter global refinery runs are estimated at 79.3 mb/d, 1.2 mb/d higher than in the first quarter of 2015, in line with global demand growth. The forecast for the second quarter throughput is at 79.7 mb/d, up only 0.8 mb/d year-on-year, slower than the forecast 1.1 mb/d demand growth. All of the net growth in the first half of 2016 comes from non-OECD refiners.

Commercial stocks in the OECD built counter-seasonally by 7.3 mb in February to end the month at 3 060 mb. Accordingly, the overhang of inventories against average levels widened to 387 mb at end-month. Preliminary information for March suggests OECD holdings rose further while volumes of crude held in floating storage increased.

Laisser un commentaire

Votre adresse de messagerie ne sera pas publiée. Les champs obligatoires sont indiqués avec *


TOP