United States oil production and its diminishing storage capacity may lead to another drop in oil prices, according the International Energy Agency’s (IEA) Oil Market Report for March 2015. The Agency revised its oil demand outlook upward, but the increase was offset by a similar revision on the production side.

U.S. production is expected to average 12.56 MMBOEPD in 2015, up from February’s estimate of 12.41 MMBOEPD, for a total year-over-year increase of 0.75 MMBOEPD. Global demand was revised upward by to about 1 MMBOEPD, an increase of 0...


Legal Notice