IEA leaves 2017 global oil demand growth at 1.6m bpd

Author: Mike Paterson | Category: News

International Energy Agency monthly report now published 12 Oct

  • 1.4mln bpd f/cast in 2018
  • global crude supply rose 90k bpd in Sept, up 620kbpd yy
  • sees non-OPEC crude supply rising 700k bpd in 2017 and +1.8mln in 2018 to reach 59.6m bpd
  • sees global oil market broadly balanced
  • expects global crude and products inventories to fall 110k bpd in 2017, 200k bpd in 2018
Yesterday OPEC published their own 2017 f/cast at 1.45mln bpd

Nothing to set pulses racing here but WTI down a tad at $51.19 and so too Brent at $56.58