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OIL: March 2024 JODI Oil Data Highlights

OIL

Oil demand in JODI-reporting countries rose by 1.3mb/d in March driven by gasoline demand, but was down 285kb/d year on-year.

Crude oil production rose by 78kb/d in March led by gains in China (192kb/d) and the UK (62kb/d). Production was down 1.5mb/d y/y with declines in Saudi Arabia (-1.5mb/d) and Iraq (-297kb/d) partially offset by gains in the US (+330kb/d).

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Oil demand in JODI-reporting countries rose by 1.3mb/d in March driven by gasoline demand, but was down 285kb/d year on-year.

Crude oil production rose by 78kb/d in March led by gains in China (192kb/d) and the UK (62kb/d). Production was down 1.5mb/d y/y with declines in Saudi Arabia (-1.5mb/d) and Iraq (-297kb/d) partially offset by gains in the US (+330kb/d).

Keep reading...Show less