- We expect global oil demand to continue to grow at a slow pace by year-end
- In this period, we expect oil supply to increase faster than demand, mainly driven by US Light Tight Oil (LTO)
- We believe a stronger US dollar will also weigh on oil prices
- However, continued supply disruptions in the politically unstable MENA region limit downside pressure
- As a result, we predict oil prices will remain flat at approximately $110/bbl in 2013
by Graham Walker // 28 March, 2013
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