The FX PostThe FX Post
    What's Hot

    FlatQube Trade Volume, Trade Pairs & Trust Score

    November 7, 2022

    Step Guide to Winning Forex Trading

    September 19, 2022

    Relationship Between Currency Risk and Foreign Bonds

    September 2, 2022
    The FX Post The FX Post
    • Best Fx Robots
    • Forex
      • News
      • Forex 101
      • Forex Forecasts
      • Broker Reviews
    • Crypto
      • News
      • Crypto 101
      • Crypto Forecasts
      • Crypto Reviews
    • Indices
      • News
      • Analysis
      • Commodities
      • Reviews
    • Automated Trading
      • Forex Signals
      • Forex Robots
      • Copy Trading
    • Top
      • Best Forex Robots
    The FX PostThe FX Post
    Home ยป Global Oil Supply Ramps Up by 1.7 mb/d in July as Demand Rose at Faster Pace of 3.8 mb/d
    Forex News

    Global Oil Supply Ramps Up by 1.7 mb/d in July as Demand Rose at Faster Pace of 3.8 mb/d

    September 1, 20211 Min Read
    Facebook Twitter Pinterest LinkedIn Reddit
    Oil and gas refinery tanks at twilight
    Share
    Facebook Twitter LinkedIn Pinterest Reddit

    Global oil demand rose by 3.8 mb/d month-on-month in June, backed by increased mobility in North America and Europe.  

    • Global oil demand is now rising 5.3 mb/d on average, to 96.2mb/d in 2021, and by an additional 3.2 mb/d in 2022.
    • World oil supply rebounded to rise by 1.7 mb/d in July to 96.7 mb/d after South Arabia ended its additional voluntary production cut.
    • The global oil output is expected to grow further in the coming months after OPEC+ entered into a new agreement to unwind its remaining curbs.
    • The recovery in global refinery activity cooled down in July as new waves of Covid-19 cut into fuel demand as margins remained under pressure.

    Global oil inventories have been reducing sharply, and in June, OECD industry shares slumped by a significant 50 mb, or 1.7 mb/d, to 131 mb below its five-year average. OPEC+ can still purchase to reverse its restrictions as required by the market.

    CL1! Down -1.17%, USOIL down -1.35%Source: IEA.

    Markets are invaded by algorithms
    Secure your passive income with algo-based trading systems
    Learn more
    Oil Petroleum
    Share. Facebook Twitter Pinterest LinkedIn Reddit

    Related Posts

    JPMorgan Chase & Co

    JPMorgan Strategists See Equity Stress Relieving in Second Fifty Percent

    June 21, 2022
    US Fed Hikes Benchmark Interest Rate

    US Fed Hikes Benchmark Interest Rate by 0.75% to 1.75%, Highest Level since March 2020

    June 16, 2022
    European Shares

    European Shares Edged Up Before Fed Rate Hike as ECB Explores Crisis Strategy

    June 15, 2022
    US Inflation Jumps

    US Inflation Jumps to Hit Fresh 40-Year Record-High of 8.6%

    June 10, 2022
    Add A Comment

    Leave A Reply Cancel Reply

    49  +    =  59

    Best FX Post
    Best Forex Robots (Expert Advisors) 2021

    Best Forex Robots (Expert Advisors) 2022: Passive Income From Algo Trading Systems

    July 7, 2021

    Top 10 Lending Platforms for Crypto Loans

    June 1, 2022
    forex eurusd trading charts

    Top 10 Best Forex Brokers In All Times

    June 1, 2022
    Recent Posts
    • FlatQube Trade Volume, Trade Pairs & Trust Score
    • Step Guide to Winning Forex Trading
    • Relationship Between Currency Risk and Foreign Bonds
    • Best Social & Copy Trading Platforms
    • Bitcoin Dips Listed Below $20,000 With Fundstrat Considering ‘Last Washout’
    Featured Reviews
    TechBerry

    TechBerry Review: Pros, Cons, Recommendations

    September 18, 2021
    CryptoHero

    CryptoHero Review: Pros, Cons, Recommendations

    June 3, 2022
    Bitsgap

    Bitsgap Review: Pros, Cons, Recommendations

    April 29, 2022
    Categories
    • Analysis
    • Automated Trading
    • Best FX Post
    • Broker Reviews
    • Commodities
    • Copy Trading
    • Crypto
    • Crypto 101
    • Crypto Bots
    • Crypto Forecasts
    • Crypto Reviews
    • Forex
    • Forex 101
    • Forex Forecasts
    • Forex Robots
    • Forex Signals
    • Guides
    • Indices
    • News
    • News
    • News
    • Reviews
    • Reviews
    • Uncategorized
    Twitter BlogLovin
    © 2023, Thefxpost.com.
    • Contact

    Type above and press Enter to search. Press Esc to cancel.