Global oil market well supplied despite disruptions to producers

Conglin Xu Senior Editor-Economics Laura Bell Statistics Editor Despite disruptions in important producing countries, the oil market in the second half of 2014 remains well supplied. Rising output from countries outside the Organization of Petroleum Exporting Countries and inventories will be able to cover growth expected in second-half oil demand of 1.5 million b/d over the same period last year. US energy demand in 2014 will increase from the 2013 level as economic growth continues after the winter freeze. Largely because of a continuing surge from unconventional-resource plays, US oil production will increase again, more than offsetting the rise in demand and allowing net oil imports t...

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