The demand outlook has darkened according to Standard Chartered. The demand outlook has darkened. That’s according to a new research note from financial services company Standard Chartered, which was sent to Rigzone late last week. The note outlined that the latest Energy Information Administration (EIA) data release was the “second-weakest reading this year” and said it represented a “giant step backwards” from the previous week’s improvement. “Our oil data bull-bear index fell 128.5 week on week to -83.4, which categorizes the data as ‘ultra-bearish’,” Standard Chartered’s report stated. “The demand side of the data was particularly poor. Our demand sub-index fell 52.8 week on week to -96.1. The only weaker reading this year was in the first week of April (-100.0),” the note added. “Implied gasoline demand fell for the second successive week. At 8.55 million barrels per day (MMbpd) it was the lowest in any July week since […]