Resilience of Rival Supply Surprises Opec

摘要

Global oil demand has stuttered in the third quarter and inventory cover is increasing, Opec said Monday in its latest Monthly Oil Market Report, as it admitted rival non-Opec supply had been more resilient than expected. In the last monthly report to be published before a key gathering of producers in Algeria on Sep. 26-28, the projection for non-Opec supply was revised up by some 180,000 barrels per day for 2016, with buoyant thirdquarter production making for a 290,000 b/d increase to the estimate for July-September alone (OD Aug.11'16).