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IEA's Birol says oil supply a concern as demand growing while output falls

Reuters  |  NEW DELHI 

By Florence TanNEW DELHI (Reuters) - Global oil supply remains a concern amid OPEC and Russian-led output reductions, with production falling from mature oilfields while demand growth remains strong, the International Energy Agency's Executive Director Fatih Birol said on Wednesday. This was despite forecasts of rising oil output from non-OPEC producers, led by the United States, which is expected to be able to meet two-third of global oil demand growth over the next five years, he said. The "growth in the United States alone is not enough to make me feel comfortable that there will be enough ...

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First Published: Wed, April 11 2018. 16:07 IST
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