Crude Oil Poised to Enter Seasonal High Demand Period

Despite crude oil’s recent rally global demand is still expected to downtick for the next few weeks before surging in May in anticipation of the summer driving season:

Crude_Oil_Demand

 

Crude oil traders are clearly looking past the current bearish market dynamic (record inventory levels) and looking to the summer demand pickup amid hopes of a supply rebalancing. It will be interesting to see what transpires in Q3 2015 when demand slips again and is expected to make fresh lows for the year in October…