Latest projections from the EIA
- 2016 demand +100kpbd to 1.41mbpd
- US 2015 output forecast 9.25mbpd vs 9.22m prior
- 2016 8.86m vs 8.82m prior
- WTI 2015 avg price $49.53 vs $49.23 prior
- 2016 unch $53.57
- Brent 2015 avg price $53.96 vs $58.57 prior
- 2016 unch $58.57
WTI is running up after the increased demand forecast and is testing $47.00. $47.16 and $47.70 are levels to watch up here
A titbit from Reuters on Brent noting traders saying that tech buying will come in if Brent stays above $50 through today
