Quarterly Oil Market Update- Attention shifting from supply to demand.

Brent Oil prices dropped by 18 percent quarter-on-quarter in Q3 2015 and averaged $50 per barrel. The market continues to witness a shift from supply to demand and no appreciable upside on oil prices is envisaged by this trend. The continued moderate pace of global economic growth will result in a 1.4 percent year-on-year global oil demand uplift with similar growth rates envisaged for 2016.