Monday, March 16, 2015


Oil: The International Energy Agency has not seen any improvement in the supply-demand situation of crude oil, nor any signs of production easing, despite the slump in oil prices.

Based on the production forecasts, Nomura estimates that the supply-demand situation could begin to improve in 2H15. However, the delay in production cutbacks by oil majors would be a risk to a further decline in oil prices.

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