Swift Energy Co fka SFYWQ

[dbg1969]

This Oil Chart Shows the Real Global Oil Supply Story
Global Energy Strategist Dr. Kent Moors, a 35-year expert in oil and gas policy, says oil demand has "nowhere to go but up." And this week's report from the EIA reiterates his point.

"The projected demand for oil in terms of millions of barrels per day has done nothing but climb higher and higher since 2009," Moors said in December. "The EIA puts current global oil consumption at a massive 91.5 million bpd, or more than 5.5 million bpd higher than in 2007."At this very moment we are already experiencing the highest daily demand worldwide ever recorded," he continued. "And to meet future demand it's literally going to require a record-breaking amount of production every year as far as the eye can see.

"Meanwhile, the current global oil supply is estimated at just 92.2 million bpd, which hardly constitutes the 'glut' the TV pundits keep harping on."

Growing demand is why oil will rebound in 2015, according to Moors.
"As the most fluid commodity in the world, crude has the ability to
quickly self-correct," Moors said. "That's why long-time oil veterans aren't worried about falling prices. In fact, the vast majority of them (including myself) actually expect oil prices to climb this year."

That's another point the EIA data supports. In 2015, the WTI oil price should average $55 a barrel, according to EIA estimates. At the end of 2014, WTI futures hit a low of $44.35. By 2016, the EIA sees WTI prices at $71 per barrel on average.
http://moneymorning.com/2015/01/30/this-oil-chart-shows-the-real-global-oil-supply-story/