The latest monthly report from the International Energy Agency

  • demand growth seen slowing from 2015 5-year high of 1.5mln bpd
  • crude oil price benchmarks rallied in early October on expectations of lower US output and rising tensions in ME
  • world oil supply held steady near 96.6mln bpd in Sept as lower non-OPEC production was offset by a slight increase in OPEC crude
  • OPEC commercial inventories extended recent gains and rose by 28.8mln barrels

Adam had this excellent piece on the oil market yesterday following the OPEC monthly report

Brent crude currently $44.68 just off session highs as is WTI at $41.90