Legg Mason Global Asset Management
July 01, 2016
A leading global investment company with specialized expertise in equities, fixed income, and alternatives.

Oil: Closing the Gap

  • The supply of crude oil continues to exceed demand, although the gap has narrowed from the peak levels of June 2015
  • According to the latest quarterly numbers from the International Energy Agency (IEA), supply was still exceeding demand by about 1.4 million barrels per day at the end of March 2016, down from around 2.2 million barrels per day in June 2015.
  • The smaller gap is the largely result of lower output, especially in the US, that resulted when oil prices began falling sharply nearly two years ago


https://www.leggmason.com/en-us/insights/chart-of-the-week/oil-closing-the-gap.html 


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