IEA Reassures Markets, Rebalancing Under Way

摘要

The International Energy Agency (IEA) remains optimistic that crude market rebalancing is under way, citing rising global demand and OECD stockdraws as reasons for optimism through 2017. Despite the recent slump in crude oil prices, which saw ICE Brent futures hit seven-month lows of $44.82 per barrel in June, and record short positions held by money managers, the IEA fundamentals for the year still point toward accelerated rebalancing.