WTI holds in bullish territories despite lowered demand forecasts By ross_burland Oil WTI Commodities DollarIndex
International Energy Agency lowered its 2022 demand forecast on weak demand from China.extended recent gains as the expectations of global supply deficits climb. At the time of writing, WTI is down 0.73% after falling from a high of $104.27 to a low of $103.51/bbls.
Analysts at ANZ Bank explained that ''the International Energy Agency said OPEC+ members have only managed to provide 10% of their promised supply increases for March. The agency also warned Russian production could drop 1.5mb/d in April as the country’s barrels struggle to find buyers.''
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