Oil outlook bearish to 2016 on persistent oversupply - IEA

摘要

Oil market players “from the driller in the Bakken to the motorist at the pump” are continuing to adjust to a world of lower prices, according to the International Energy Agency’s (IEA) latest monthly oil report. The IEA outlook came as Brent crude futures again fell below USD 50/barrel, with prices dropping sharply during July and into August. ICE Brent closed at USD 49.66/barrel on Wednesday, while WTI closed at USD 43.30/barrel.