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Stock impact report

Crude oil hits more than four-month high as IEA forecasts market deficit [Seeking Alpha]

BOK Financial Corporation (BOKF) 
Last bok financial corporation earnings: 4/22 07:55 am Check Earnings Report
US:NASDAQ Investor Relations: bokf.com
Company Research Source: Seeking Alpha
also forecasting a slight supply deficit through 2024, instead of a previously predicted surplus. The IEA raised its 2024 demand growth estimate for crude oil by 110K bbl/day to 1.3M bbl/day, citing a stronger U.S. outlook and the increased need for fuels in shipping, as vessels take longer routes to avoid Houthi attacks in the Red Sea. The amount of oil aboard ships at sea surged to nearly 1.9M barrels at the end of February, the second highest level since the height of the COVID-19 pandemic, according to the report Saudi Arabia and its OPEC+ partners agreed earlier this month to extend ~2M bbl/day of production curbs to the middle of the year, and the IEA now assumes the measures will continue until the end of 2024, so "the changed assumptions shift our implied balance into a slight deficit rather than the hefty build in last month's report." The IEA's outlook still marks a significant slowdown from last year's demand growth of 2.3M bbl/day and contrasts with OPEC's forecast Show less Read more
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