IEA says U.S. oil output will soon overtake Saudi Arabia’s; by year-end may top Russia’s

Market news

13 February 2018

IEA says U.S. oil output will soon overtake Saudi Arabia’s; by year-end may top Russia’s

OECD oil inventories at end-dec 52 mln barrels above five-year average, vs 264 mln barrels a year earlier
Oil demand grew by 1.6 mln bpd in 2017
Non-OPEC oil supply, led by United States, likely to grow more than demand in 2018
Raises forecast for global oil demand growth to 1.4 mln bpd in 2018 from 1.3 mln bpd

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