Oil Demand Continues To Undershoot Forecasts ...Middle East

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Oil Demand Continues To Undershoot Forecasts
source : OILPRICE ( Middle East ) () 29
Oil demand forecasts will likely be revised downward further, Citi’s Ed Morse said in a Bloomberg Television interview on Wednesday. “Almost everybody has reduced their expectations of demand for the year,” Morse said, adding that demand was “simply not growing on an empirical basis to the degree that people had expected.” Citigroup has reduced its oil demand forecast by a third, to between 2.4 million bpd and 2.5 million bpd—close to outlooks provided by the EIA and IEA. Morse expects to see even further downward…

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