You are here: Home » Reuters » News
Business Standard

Global oil market rebalancing speeds up, inventories lag - IEA

Reuters  |  LONDON 

By Amanda CooperLONDON (Reuters) - The global oil market is rebalancing and the pace at which supply and demand are falling into line is picking up, even if inventories still fail to reflect the impact of OPEC supply cuts, the International Energy Agency said on Tuesday.In its monthly report, the IEA kept its global demand growth forecast for 2017 unchanged at 1.3 million barrels per day (bpd), because of slowdowns in previously robust consumer countries such as the United States, Germany and Turkey.Commercial inventories fell for a second straight month in March, by 32.9 million barrels to ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Tue, May 16 2017. 14:24 IST