IEA: Sees global oil market moving into deficit by Q2 2019 on 100% OPEC compliance with supply deal
|The International Energy Agency (IEA), in its December monthly oil market report published this Thursday, kept global oil demand growth forecast for 2018 and 2019 at 1.3 million bpd and 1.4 million bpd, respectively.
Key Points:
• Raises 2019 call on OPEC crude by 300,000 bpd to 31.6 million bpd.
• Sees global oil market moving into deficit by Q2 2019.
• Assuming 100% OPEC compliance with supply deal.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.