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It's so exciting!And I just can't hide it! I know that I like it! Oil demand can actually go higher! No seriously it can. The EIA in its Short Term Energy outlook raised its expectations for global oil demand for the first time since last September. Yippee!! All right maybe I am over doing it a bit. And10,000 barrels a day isn't anything to get excited about but at least we are not falling! Let's get pumped up about the fact that world demand is now expected to top 83.68 million barrels per day this year, up from 83.67 million barrels per day forecast in May. Wow!!! Yet demand will still fall short of last year's 85.43 million barrels per day. All right maybe it is not all that exciting but let's face the fact that it does not take a lot to get the oil market excited. Oil is already very excitable especially with the backdrop of a very depressing dollar and now big drop in crude supply reported by the American Petroleum Institute and news that BP has lowered its estimates for world oil reserves this market won't be able to contain its excitement.
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