OIL MARKET OUTLOOK 2015
The oil market outlook in 2015
Despite some weakness in the first half of the year, the world economy continues to recover. Global GDP growth in 2014 is now forecast at 3.1%, slightly higher than the estimated 2.9% for 2013. The US experienced a surprisingly large contraction in economic activity in the first quarter due to severe winter weather, leading to a downward revision in US GDP growth to 1.6% from 2.4% previously. However, with the US economy…
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