The OPEC Reference Basket for crudes fell $1.23 in March.
Changes in the crude oil markets are attributed to a slowdown
in Chinas economy and reduced crude oil demand by
refineries. Non-OPEC supply growth is expected to outpace
global consumption growth and stabilize oil prices.
North America leads in new production, stemming from shale oil
in the US and growth in the Canadian oil sands. Global product
markets are expected to receive support from increased diesel
and gasoline demand by OECD nations.
A detailed statistical breakdown can be viewed in the slides