IEA cuts 2017 oil demand growth forecast by 100k bpd to 1.2mln bpd

Market news

11 August 2016

IEA cuts 2017 oil demand growth forecast by 100k bpd to 1.2mln bpd

- forecast reduced on dimmer economic outlook following Brexit vote.

- raises 2017 non-OPEC oil output growth forecast by 200k bpd to 300m bpd.

- our balances show essentially no oversupply during H2 2016. Hefty draw from stocks in Q3.

- stock draw will increase refiners' appetite for oil asnd help pave the way to a sustained tightening of crude balance.

*via forexlive.

Italian trade balance decreased in June

Italy's consumer prices decreased as initially estimated in July

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