IEA: 2017 global oil demand growth forecast kept broadly unchanged

The International Energy Agency (IEA) published their latest monthly oil market report, noting the following details:
Too early to judge compliance
Keeps 2017 global oil demand growth f/cast broadly unchanged at +1.3m bpd
Raises 2016 global demand growth by 110k bpd to +1.5m bpd
OPEC crude production fell 320k bpd to 33.09m bpd in Dec
Global Oil supplies fell by more than 0.6 mb/d in Dec, to 97.6 mb/d on lower OPEC and Non-OPEC output
Forecast of 2017 non-OPEC oil supply growth raised by 175,000 bpd to +385,000 bpd
Demand for OPEC crude oil in 2017 forecast unchanged at 32.9m bpd
Author

Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

















