You are here: Home » Reuters » News
Business Standard

Oil supply growth to outpace rise in consumption in 2018 - IEA

Reuters  |  LONDON 

LONDON (Reuters) - Growth in oil supply next year is expected to outpace an anticipated pick-up in demand that will push global consumption above 100 million barrels per day (bpd) for the first time, the International Energy Agency said on Wednesday.The Paris-based IEA said production outside the Organization of the Petroleum Exporting Countries would grow twice as quickly in 2018 as it will do this year, when OPEC and 11 partner nations have restrained output."For total non-OPEC production, we expect production to grow by 700,000 bpd this year, but our first outlook for 2018 makes sobering ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, June 14 2017. 13:40 IST
RECOMMENDED FOR YOU