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nlightn

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nlightn

Re: None

Tuesday, 10/14/2014 7:19:08 AM

Tuesday, October 14, 2014 7:19:08 AM

Post# of 364628
$USO,...IEA lowers oil demand outlook

The International Energy Agency has sharply cut its forecast for oil demand, predicting that it will increase by 700,000 barrels per day (bpd) in 2014 vs a previous estimate of 0.9M bpd.

For 2015, the agency expects demand to rise 1.1M bpd to 93.5M, with the growth around 300,000 bpd less than previously thought.

"Recent price drops appear both supply and demand driven. Further oil price drops would likely be needed for supply to take a hit – or for demand growth to get a lift," the IEA says.
Nymex crude is -1.1% at $84.77.

invest at your own risk, based on your own due diligence, at your own risk tolerance

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