Our dashboard explores key short-term signposts impacting oil demand, supply, and prices.
Brent crude oil prices increased by USD 6.0/bbl m-o-m to USD 86.2/bbl, driven by an improving macroeconomic sentiment with easing inflation, and the tightening of global supply due to OPEC cuts and a decline in Russian output:
- Global oil demand. Global liquids demand increased by 0.2 MMb/d m-o-m in August to 101.4 MMb/d. In spite of an overall global increase, Chinese demand declined by 0.5 MMb/d m-o-m with a drop in their crude exports from Saudi Arabia. Outside of China, the majority of the increase was driven by the US, where demand rose by 0.5 MMb/d m-o-m
