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Oil markets will remain oversupplied at least until late 2016 – IEA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The Paris based International Energy Agency (IEA), in its monthly report, says the oil markets will remain oversupplied at least until late 2016.

    Key Points

    Global Oil supplies expanded by 2.6 million bpd in 2015, versus a rise of 2.4 million bpd in 2014

    2016 global demand growth estimate unchanged at around 1.2 mln bpd

    Warm winter weather cut global Oil demand growth to a one-year low of 1.0 mln bpd in Q4 2015

    Cuts estimate of 2016 call on OPEC Crude by 300,000 bpd to 31.7 million bpd
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