Industry Metrics: OECD nations poised to boost diesel, gasoline demand
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 below: