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