IEA: At Least Another Year Before Oil Markets Rebalance | OilPrice.com

From Art Berman at Oilprice.com:

In its August Oil Market Report (OMR), the IEA revised 2nd quarter 2015 demand upward 370,000 bpd from its July estimate but also revised supply upward by 140,000 bpd. Total liquids supply is 96.53 million bpd and demand is 93.5 million bpd……

IEA Quarterly Oil Production Surplus

….The world continues to have an over-supply problem that is slowly improving but it will take another year before the market comes into balance.

Read more at IEA: At Least Another Year Before Oil Markets Rebalance | OilPrice.com.

3 thoughts on “IEA: At Least Another Year Before Oil Markets Rebalance | OilPrice.com

  1. […] IEA: At Least Another Year Before Oil Markets Rebalance | OilPrice.com […]

  2. […] The August 2015 Report from the International Energy Agency indicates that oversupply is growing. After the latest market turmoil, IEA estimates of global demand are also likely to be revised downward. Maybe that long-term target of $36/barrel** is not so crazy after all. […]

  3. […] crude prices to continue falling. The August 2015 Report from the International Energy Agency indicates that oversupply is growing. It is likely to take at least a year before balance is […]

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