GLOBAL REPLACEMENT OF DEPLETED OIL STOCKS BOOSTS DEMAND

An effort to replenish depleted oil stocks, especially in China, the United States, and Europe, could boost demand and prices in the coming months. Supply disruptions due to sanctions on Russia and prolonged cuts in OPEC+ production have left global stocks low. Tensions in the Middle East raise concerns about supply, encouraging stock replenishment. Analysts are raising price forecasts, with Morgan Stanley suggesting a tight oil market this year. Increased purchasing by China, Europe, and the US indicates strong demand for replenishment. The market may reach 67 days of demand coverage by the end of 2025.
Source: InfoMoney