Post by capitalstars Equity tips on Aug 12, 2016 18:35:15 GMT 8
The IEA also noted that it expects global demand growth will decline from 1.4 million barrels per day in 2016 to 1.2 million bpd in 2017.
IEA Oil Market Report for August, global oil demand growth is expected to slow down in 2017.
Additionally, the IEA expects non-OPEC production to drop by 900,000 this year, before a 300,000 bpd rebound in 2017.
Inside the OPEC, oil output has also seen an increase as Saudi Arabia pushes output to peak levels and Iraq increases oil pumping figures.
Oil prices rose nearly 5% on Thursday after comments from the Saudi oil minister about possible action to stabilize prices triggered a round of buying and the International Energy Agency forecast crude markets would tighten in the second half of 2016.
Capitalstars
IEA Oil Market Report for August, global oil demand growth is expected to slow down in 2017.
Additionally, the IEA expects non-OPEC production to drop by 900,000 this year, before a 300,000 bpd rebound in 2017.
Inside the OPEC, oil output has also seen an increase as Saudi Arabia pushes output to peak levels and Iraq increases oil pumping figures.
Oil prices rose nearly 5% on Thursday after comments from the Saudi oil minister about possible action to stabilize prices triggered a round of buying and the International Energy Agency forecast crude markets would tighten in the second half of 2016.
Capitalstars