IEA's Paris head of oil division Neil Atkinson speaks to Bloomberg TV

  • Sees oil demand growth at 1.4-1.5M bpd in 2018
  • Sees a chance of steel tariffs impacting US oil in the futures
  • Oil inventories to reach 5-year average in 2-3 months
  • Producers appear happy that prices have "settled"
  • OPEC mission has not yet been accomplished

In its report last month, the IEA said that the US to be the biggest force in the oil market over the next few years - even highlighting that it will cover 80% of the world's oil demand growth.

Oil prices have benefited from the general risk-on mood in markets today, with Brent up by 0.54% at $69.02 while WTI is up by 0.69% at $63.86.