Global Crude Market Expected To Tighten During 2012-13, Says EIA

The US Energy Information Administration (EIA) forecast that world oil markets would continue to gradually tighten in 2012-13 in its latest Short Term Energy Outlook, released on 7 February. This would be due to increases in global consumption that would outpace production in countries outside OPEC, the report said. It projected that world liquid fuels consumption would grow by an average of 1.3mn b/d in 2012 and 1.5mn b/d in...