Oil Glut Will Persist As Global Demand Growth Slows: IEA

摘要

A global oil supply glut will persist through 2016 as demand growth slows from a five-year high and key OPEC members maintain near-record output, the International Energy Agency (IEA) said, even as low prices curb supply outside the producer group. The IEA, which advises industrialized countries on energy policy, said in an Oct. 13 report that world oil demand will rise by 1.21 million barrels per day (MMbbl/d) in 2016, down 150,000 bbl/d from last month's forecast. "A projected marked slowdown in demand growth next year and the anticipated arrival of additional Iranian barrels-should international sanctions be eased-are likely to keep the market oversupplied through 2016," the Paris-based IEA said.