bullish
Global Commodities: Demand for Oil Is Good, Just Not for Crude
SUMMARY
- Brent crude has weakened by $10 since early April, with the prompt time spread indicating plentiful supply relative to consumption
- Demand for crude oil for combustive fuels like gasoline and diesel is expected to peak towards the end of the decade, while demand for natural gas liquids used in petrochemical production is set to rise
- Preliminary demand data for April showed signs of improvement, with observable oil inventories increasing, particularly in China, due to lower oil prices prompting stockpiling
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.
Begin exploring Smartkarma's AI-augmented investing intelligence platform with a complimentary Preview Pass to:
- Unlock research summaries
- Follow top, independent analysts
- Receive personalised alerts
- Access Analytics, Events and more
Join 55,000+ investors, including top global asset managers overseeing $13+ trillion.
Upgrade later to our paid plans for full-access.
or
Already have an account? Sign In Now
Discussions
(Paid Plans Only)
x