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SSY News
 GLOBAL OIL SURPLUS WIDENS IN JANUARY DESPITE GROWTH IN NON-OECD DEMAND |
04-02-2010 |
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The global oil surplus grew to close to 1.5 mbpd in January as, month on month, demand fell by 820 kbpd to average 85.61 mbpd and supply increased by 150 kbpd to 87.1 mbpd, reports Energy Intel. Compared to January 2009, when recession was hitting hardest, global demand last month was up by 1.08 mbpd. Non-OECD demand was up by 2.35 mbpd year on year and now averages 40.1 mbpd, whilst OECD demand fell 1.27 mbpd over the same period to average 45.53 mbpd. China led the way in terms of growth with apparent demand rising by 1.2 mbpd to 8.8 mbpd y-o-y. |
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