SUPPLY DEMAND

 

Global Market Loosens With Crude Production Boost, Says EIA

Global oil markets have loosened in recent months as world oil production exceeded consumption by 0.7mn b/d during the first quarter of 2012, the US Energy Information Administration (EIA) said in its latest Short-Term Energy Outlook, released on 12 June. Output is forecast to exceed consumption during the second quarter by 1.2mn b/d. Higher production and declining demand has allowed...