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11 Apr 2025

EIA lowers forecast for global oil demand and US oil production – Commerzbank

The US Energy Information Administration (EIA) has revised its forecast for global oil demand downwards, Commerzbank's commodity analyst Carsten Fritsch notes.

Oversupply fears push oil price outlook lower

"It now expects an increase of only 900 thousand barrels per day this year and 1 million barrels per day next year. Previously, the expected increase was 1.2 million barrels per day in each case. According to the EIA, the weaker demand and the stronger production increase by OPEC+ are likely to lead to a greater oversupply on the oil market in the second half of the year."

"As a result, the EIA also significantly lowered its assumptions for oil prices. In response, the EIA also reduced its forecast for US crude oil production. This is only expected to increase by 300,000 barrels per day in 2025 and to virtually stagnate next year."

Apr 11, 2025

Large discrepancies between surveys on OPEC production in March – Commerzbank

The OPEC production surveys by Reuters and Bloomberg again showed a considerable discrepancy for March, Commerzbank's commodity analyst Carsten Fritsch notes.

Gold ETFs post strong inflows in March and the first quarter – Commerzbank

The March data on gold ETFs published by the World Gold Council this week showed a continued high buying interest among ETF investors, Commerzbank's commodity analyst Carsten Fritsch notes.