• IEA OIL REPORT:Feb global oil supply +200 kbd m/m to record high 89 mbd

Market news

15 March 2011

IEA OIL REPORT:Feb global oil supply +200 kbd m/m to record high 89 mbd

  • OPEC Feb crude output down 95 kbd m/m to 30.05 mbd
  • Feb Libya supply down 200 kbd,partly offset by Gulf states 
  • OPEC spare capacity ex-Libya at two-year low of 4.08 mbd 
  • Hikes estimated 1Q oil demand by 300 kbd to 89.0 mbd
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