IEA cuts 2018 global oil demand growth forecast to 1.4 mln bpd from 1.5 mln bpd in prior month

Market news

16 May 2018

IEA cuts 2018 global oil demand growth forecast to 1.4 mln bpd from 1.5 mln bpd in prior month

Increases 2018 non-OPEC supply growth forecast to 1.87 mln bpd from 1.8 mln bpd previously
Global refining runs to hit record 83 mln bpd by july-august, but will not cover all refined product demand
"Will monitor developments closely and is ready to act if necessary to ensure markets remain well supplied"
"Too soon" to predict impact on iran crude flows from U.S. sanctions

IEA sees "modest" inventory draws in Q2 that will accelerate in Q3

North Korea: Will Never Engage In Economic Trade With United States In Exchange For Giving Up Its Nuclear Programme – KCNA

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