Fundamentals October 2017

Published at 13:04 24 Oct 2017 by

Our latest assessment of the global inventory overhang pegs the excess at 120–130 mb, with around 105 mb of that in the US. However, the pace of draws has undoubtedly slowed in recent weeks due to a slowdown in demand growth. Indeed, Q3 17 demand was revised lower by a hefty 0.62 mb/d due to extreme…

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