OPEC sec general Barkiondo out on the wires 19 Oct

And the headlines just keep on coming.

  • balanced oil market in sight
  • global oil demand growth has been robust
  • signs of stronger trend
  • expects oil demand to surpass 1oom bpd as early as 2020
  • OECD oil stocks fell further in Sept to stand at around 160m bpd above 5-year average

Upbeat remarks again from Barkindo after yesterday's comments and a report that a 9month output cut extension may be introduced.

WTI recovering to $5157 after earlier fall to $51.38 from $52.20. Brent $57.19 from $57.04

Update from Barkindo:

  • consultations are ongoing for Nov 30 meeting agenda
  • no comment on whether deeper cut needed