JODI Oil Data Signals Tight Summer Market

Global oil demand jumped in June by more than 1 million barrels per day (bpd) from May, while production growth has half that figure, leaving inventories at below the five-year averages, the latest data by the Joint Organizations Data Initiative (JODI) showed on Wednesday. Oil demand in 48 JODI-reporting countries surged by 1.23 million bpd month-on-month and by 638,100 bpd year-on-year in June, according to the most recent data by JODI shared by the Riyadh-based International Energy Forum (IEF). The monthly surge in global demand was driven mainly…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com