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 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…