OctaFX | OctaFX Forex Broker
Open trading account

EIA raises 2015 global oil demand forecast

FXStreet (Mumbai) - The US Energy Information Administration (EIA), in its latest round of projections, raised the 2015 global oil demand forecast by 170K barrels per day (bpd) to 1.34 million bpd. The demand forecast for the next year is revised higher by 100K bpd to 1.14 million bpd.

Output forecast for 2015 now stands at 9.25 million bpd compared to the previous forcast of 9.22 million. 2016 forecast was also revised higher to 8.86 million bpd from 8.82 million bpd.

WTI Oil average price is seen at USD 49.53/barrel compared to the previous forecast of 49.23/barrel. The 2016 WTI average and Brent average is held unchanged at USD 53.57/barrel and USD 58.57/barrel respectively.

Meanwhile, Iran oil chief said they are going to introduce more than 50 exploration and production projects in the near future.

AUD: RBA comfortably on hold, unbothered by Fed – HSBC

Paul Bloxham, Chief Economist at HSBC, suggests that today's announcement by the RBA was unsurprising, with the cash rate left on hold at 2.00%. More importantly, the post-meeting statement was almost identical to last month's, implying that the RBA was just as comfortable with its policy setting as it was last time the board met.
Read more Previous

EUR/JPY retreats from highs, back to 135.00

After climbing to daily tops near 135.20, EUR/JPY has now surrendered some gains and is testing the vicinity of 135.00 the figure...
Read more Next
Start livechat