Global Demand

Global demand, at 86.3 million b/d was outpacing oil supply by 600,000 b/d, shaving off some of the relatively abundant stocks. Virtually all growth in February was taking place in developing non-OECD economies, as established OECD economies added just 125,000 b/d to their consumption. One third of the non-OECD growth came from OPEC member states, one third from China, while India added 50,000 b/d and Brazil 145,000 b/d.

Wow