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Non-OPEC supply to contract more than previously expected – OPEC monthly report

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The latest monthly report from the Organization of the Petroleum Exporting Countries (OPEC) shows the non-OPEC supply is likely to contract more than expected in 2016.

    Key Points

    Oil demand forecast for 2016 rose to 1.26 mbpd vs 1.25m prior.

    Oil surplus to shrink to 530kbpd in 2016 vs previous forecast of 860kbpd prior.

    Non-OPEC supply expected to drop -600k vs -380k bpd prior.
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