from its 3.70 % outlook on its last update in the preceding week , which `` further improves the already fairly rosyGrow.strongdemand prospects on the oil market , '' Commerzbank ( DE : CBKG ) analysts say .
The commodity started growingGrow.strongfrom the crisisCrisisin 2014/15 when demand ranged between 94-96 million barrels per day ( mb/d ) on a quarterly basis .
Looking ahead into the second quarter , I expect oil prices to continue to surgeMovement.up.gainwhile being kept in check by plentifulGrow.strongUS shale output levels and caution over the prospect of a weakningSlow.weakin domestic demand .
By Catherine Ngai NEW YORK -LRB- Reuters -RRB- - Global oil prices slidMovement.down.lossfurther on Friday , with Brent on track for the first weekly close below $ 70 a barrel since 2010 , as strongGrow.strongU.S. employment data did little to lift the oil market 's bearishSlow.weakmood a day after Saudi Arabia cutCause.movement.down.lossofficial selling prices .
Still , if there were clear signs of growingGrow.strongaggregate demand for oil , prices would likely trend upwardMovement.up.gaindespite the differences in international oil policies .
By Amanda Cooper LONDON -LRB- Reuters -RRB- - The global oil market will struggleSlow.weakthis year to absorb fast-growingGrow.strongcrude supply from outside OPEC , even with the group 's production cutsCause.movement.down.lossand U.S. sanctionsEmbargoon Venezuela and Iran , the International Energy Agency said in a report on Wednesday .
`` The end of oil and gas demand growth is not yet upon us , as modest reboundsMovement.up.gainare forecast towards 2013 as the underlying industrial situation improvesGrow.strongglobally , '' particularly in the America and India , it said .
Consuming nations might bank on sharply moreMovement.up.gainproduction from Iraq , Iran and Iraq , on the basis of their sufficientGrow.strongestimates of exports this week - but only once they have put present troubles behind them .
`` The end of oil and gas demand growth is not yet upon us , as modest reboundsMovement.up.gainare forecast towards April as the underlying industrial situation improvesGrow.strongglobally , '' particularly in the UK and India , it said .