Arlington, Virginia – July 27, 2016 – EVA has released its monthly forecast of crude oil and petroleum products price forecast. There continue to be indications that the current era of excess supply will persist until 2017. The series of temporary curtailments of supplies due to Canadian wildfires, the Kuwait workers strike, and the problems in the Niger Delta have been overcome by global supplies returning to near-normal conditions. In addition, the outlook for supply continues to be otherwise robust, while there are several factors that will slow global demand for crudes over the next few years. The report summarizes how these trends are occurring at a more detailed level, and what the effects will be on petroleum product prices.
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