Crude Oil prices fell in March amid concerns about demand in Europe and the decision by OPEC+ to gradually increase production. Nevertheless, strategists at Capital Economics expect that supply will remain constrained and that demand will continue to recover, which should push prices higher in the coming quarters. A strong rebound in global oil demand this year “The ongoing easing of restrictions in the US should increase transport mobility and boost gasoline and kerosene (jet fuel) consumption there. Meanwhile, global industrial activity has now generally recovered from last year’s slump and no longer poses a significant headwind.” “The decision by OPEC+ to ease recent production cuts means that supply should rebound in earnest from May. But elsewhere, we expect output to remain constrained. This is especially true in the US, where weak drilling activity suggests that production will be slow to rebound.” “We still think that the global oil market will remain in a deficit for the rest of 2021. However, this deficit is likely to be smaller than we previously envisaged. As a result, we have revised down our Brent forecasts for Q2 and Q3 to $70 and $75 per barrel, respectively.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Price Analysis: XAU/USD to move downward as market focuses on higher yields – OCBC FX Street 2 years Crude Oil prices fell in March amid concerns about demand in Europe and the decision by OPEC+ to gradually increase production. Nevertheless, strategists at Capital Economics expect that supply will remain constrained and that demand will continue to recover, which should push prices higher in the coming quarters. A strong rebound in global oil demand this year "The ongoing easing of restrictions in the US should increase transport mobility and boost gasoline and kerosene (jet fuel) consumption there. Meanwhile, global industrial activity has now generally recovered from last year's slump and no longer poses a significant headwind." "The decision… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.