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Highlights Of March JODI Oil Data

OIL

Highlights of March JODI oil data released today:

  • Global oil demand rose by 3mbpd on the month in March, a new record high.
  • Global crude oil production declined 0.5mbpd in March given lower output in the US, China, Angola, Canada and the UK.
  • Saudi Arabia’s crude oil production rose by 14kbpd to 10.46mbpd in March.
  • Chinese crude oil imports rose by 1.37mbpd to 12.35mbpd in March.
  • US crude production fell by 257kbpd to 12.22mbpd in March but remained up by 525kbpd from last year’s levels.

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