Saudi supply rose in October – OPEC monthly report

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The OPEC monthly report released today showed Saudi Arabia; the biggest exporter of oil, increased its oil supply by 50K barrel in October.

    Key Points

    2016 world oil demand forecast unchanged at 1.25mbpd

    2016 OPEC crude demand unchanged at 30.82mbpd

    Oil surplus will narrow to 560k bpd in 2016 vs 750k seen in Sep

    Non-OPEC supply will fall 130k bpd (unch vs Sep) in 2016. Expected non-OPEC oil supply drop will be first since 2007 and will leave a gaping supply hole in the market
    For more information, read our latest forex news.

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