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Warmer weather, rising non-OPEC output threaten oil market balance

Reuters  |  LONDON 

By Amanda CooperLONDON (Reuters) - Global oil demand growth looks likely to increase more slowly over the coming months, as warmer temperatures cut consumption, which may tilt the market back into surplus in the first half of next year, the International Energy Agency said on Tuesday.In its monthly oil market report, the Paris-based IEA cut its oil demand forecast by 100,000 barrels per day (bpd) for this year and next, to an estimated 1.5 million bpd in 2017 and 1.3 million bpd in 2018.Geopolitical tension in the Middle East and intermittent supply outages in the likes of Nigeria and Iraq ...

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First Published: Tue, November 14 2017. 15:34 IST