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PVM Midday Report 13 March 2015

Published Friday, March 13th, 2015

  • IEA revises 2015 oil demand growth up
  • IEA sees no sign of US oil production slow down
  • Ukraine receives $5 billion IMF loan
  • Greek economy grew by 0.8% in 2015 – Statistics Service

Economy

It seems that yesterday’s rally in the euro was only a temporary phenomenon as the common currency is slipping back below the 1.06 mark against the US dollar. European stock markets are edging higher this morning on the back of the weaker euro as the ECB’s bond buying programme is well underway. The Bank of England warned markets this morning to “take heed” as the “short sharp shocks” like the sharp rise in Swiss franc last month could happen more frequently. The Greek statistics service expects the country’s economy to expand by 0.8% in 2014 beating the estimate of 0.6% from the EU/IMF.

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Posted by Tamas Varga

Tamas Varga has been in the oil industry since 1992 and with PVM for 18 years. During his time in the industry he has gathered a range of experience in the oil markets. At PVM Tamas is in charge of data collection and analysis.