Highlights of the latest OMR dated: 11th April 2014 Crude oil prices were range-bound in March, with supply outages in the MENA and Russia-Ukraine tensions countering seasonally weaker demand. By early April, market expectations of an imminent restart of Libyan exports pressured Brent prices lower. Brent last traded at $107.75/bbl. The forecast of global demand growth has been marginally trimmed to 1.3 mb/d for 2014, reflecting downward adjustments to the projection of Russian demand. The absolute demand estimate remains roughly unchanged, as upward revisions to baseline non-OECD Asian demand counterbalance lower Russian growth. Global supplies plunged by 1.2 mb/d to 91.75 mb/d in March, led by steeply lower OPEC output , but remained up by 1.1 mb/d year-on-year, as non‐OPEC growth of 1.98 mb/d more […]