April 13, 2017

...AND CHEAPER...:

Oil demand growth slows for second year (BBC, 4/13/17)

Demand for oil is expected to slow for the second year in a row, the International Energy Agency has said. [...]

But the organisation predicted supply would grow in coming months, with US oil-producing firms driving the increase.

The IEA said it expected non-Opec production, of which the US and Russia account for the biggest chunk, to rise by 485,000 barrels a day in 2017 to a total of 58.1 million barrels a day.

US production had already climbed to 9 million barrels a day in March, up from a September low of 8.6 million barrels per day.

Posted by at April 13, 2017 7:06 AM

  

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