Market news
13.07.2011, 08:21

EA Sees 2012 avg global oil demand +1.6% (+1.5 mbd) to 91 mbd

  • Sees 2012 avg non-OPEC supply +1.7% (+0.9 mbd) to 54 mbd
  • Sees 2012 avg OPEC call/stocks at 30.7 mbd, +100 kbd y/y
  • Hikes avg 2011 global demand fcst by 200 kbd to 89.5 mbd
  • Cuts avg 2011 non-OPEC supply fcst by 200 kbd to 53.1 mbd
  • Hikes avg 2011 OPEC call/stocks fcst 400 kbd to 30.6 mbd
  • Hikes 3Q 2011 OPEC call/stocks fcst 600 kbd to 31.3 mbd
  • Part of 3Q 2011 call seen covered by June reserve release
  • June global oil supply up 1.2 mbd m/m to 88.3 mbd
  • June OPEC crude output up 0.85 mbd m/m to 30.03 mbd
  • Welcomes OPEC rise,'but market still more needs oil in 3Q
  • June non-OPEC supply up 0.4 mbd m/m to 52.5 mbd
  • OECD may ind stocks up 23.9 mb m/m;June stocks seen lower

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