Arlington, Virginia – September 26, 2016 – EVA has released its Monthly Short-Term Crude Oil and Petroleum Products Price Forecast report. Building on last month’s report, market’s main concern is the timeline for a re-balancing of supply and demand in the market. IEA and OPEC are now looking at 2018 which is more in line with EVA’s view of YE2017. EVA sees three major reasons for the delay in a re-balanced market (1) slow oil demand growth, (2) a continued resilience of Non-OPEC production excluding the U.S., and (3) the increase in Permian basin rig count.
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