Crude Oil Quarterly Report - The Interplay Of Pricing, Supply And Demand: Motilal Oswal
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Motilal Oswal Report
World oil demand in 2020 shows a contraction of 9.6 million barrels per day, to stand at 90.4 million bpd.
Organization of Economic Cooperation and Development oil demand contracted by 5.6 million bpd, while non-OECD demand declined by 4 million bpd.
Oil requirements in H1 FY21 are adjusted lower, mainly due to extended measures to control Covid-19 in many key parts of Europe.
On supply front, global oil supply rose 590 thousand barrels per day in January, to 93.6 million bpd, as Organization of the Petroleum Exporting Countries plus cuts eased and non-OPEC+ pumped more.
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