- and “little room for complacency”
Latest oil report from the International Energy Agency
- global oil demand growth to accelerate to 1.4 mln BPD in 2015, up from revised 1.23 mln in 2014
- sees demand for OPEC crude oil plus stock change at 29.8 mln BPD in 2015, cuts estimate of demand for OPEC oil in 2014 by 200,000 to 29.9 mln
- IEA says OPEC crude oil output fell to 30.03 mln BPD in June, down 40,000 from May as Iraq output declined
- sees non-OPEC oil supply growing 1.2 mln BPD in 2015, trims estimate of 2014 non-OPEC oil supply growth to 1.4 mln vs 1.5 mln prev
A word of caution from the IEA
