“Trade tensions might escalate and lead to slower economic growth, and in turn, lower oil demand,” the International Energy Agency (IEA) warned in its closely-watched oil market report, released this Friday.
The latest monthly report further added that a US plan to impose targeted crude sanctions against Iran could significantly impact global supply and exhaust the world's spare oil capacity cushion.
• Raises 2019 oil demand growth forecast by 0.11 million bpd, now seen at 1.49 million bpd.
• Sees risk to 2019 oil demand growth from trade disputes and rising prices if supply is constrained.
• Concerns about the stability of oil supply have cooled somewhat, at least for now.
• Non-OPEC oil supply growth forecast raised by 100k bpd for 2018 and 2019.
• 2018 forecast seen at 2.0 million bpd while 2019 forecast at 1.85 million bpd.
• Maintaining global supply might be very challenging.
• That is due to Iran sanctions and perhaps production problems elsewhere.
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.