The report discusses the state of the global oil market as of February 2016, highlighting that global oil supply exceeds demand by about 1.5 million barrels per day. This oversupply is largely due to increased production by U.S. shale producers, financed by debt facilitated by quantitative easing by the U.S. Federal Reserve. The report forecasts oil prices to average $40 per barrel in 2016, with a potential recovery to $50 by year-end. It also notes uncertainties in demand due to winter weather and Chinese demand growth, and in supply due to Iran's market return and Saudi-Iran tensions. The U.S. Energy Information Administration expects global inventory build to continue, though at a slower rate.
documents/vol00010-efta01459655-pdf.pdf
{"title":"CIO View Special - Americas Edition","key_people":["Terry Brennan"],"document_date":"February 2016","document_type":"other","key_locations":["United States","China","Iran","Saudi Arabia"],"document_subtype":"report","key_organizations":["Deutsche Asset Management","U.S. Energy Information Administration","U.S. Federal Reserve","OPEC"],"reference_numbers":["DB-SDNY-0120241","SDNY_GM_00266425","EFTA01459655"]}