IEA Sees Persistent Oil Surplus Despite Opec Cuts

摘要

Non-Opec oil supply is rising less quickly than previously anticipated and Opec is cutting more production than had been anticipated, but that won’t be enough to balance the market in 2020, especially in the first half of the year, says the International Energy Agency (IEA). Non-Opec supply, led by the US, is forecast to grow by 2.1 million barrels per day in 2020, the IEA says in its latest monthly Oil Market Report, published Thursday. That is 200,000 b/d lower than it projected in November.