The recent IEA report likely underestimates demand. Supply is abundant and the s&d balance is loose, but armageddon is not coming. Global Oil Supply And Demand Early 2015 Review The International Energy Agency recently published its Oil Market Report. In this, it highlights and examines recent global oil supply and demand. It is a great time to take a look at and review the status of the global oil supply/demand balance and make some forecasts about what the rest of this year may look like. US crude oil stocks have been building steadily since the week of September 26, 2014, when they reached a recent low of approximately 356 million barrels. US oil in storage accelerated steeply in the first quarter of 2015. Last week, US oil stocks were 482 million barrels, a build of 124 million barrels in 6 months. […]