IEA Oil Market Report: oil market is tightening, yet global demand falter

Market news

11 April 2019

IEA Oil Market Report: oil market is tightening, yet global demand falter

IEA keeps forecast of global oil demand growth for 2019 at 1.4mln bpd, supported by robust Chinese and Indian consumption
global oil supply dropped 340,000bpd in March on Opec cuts, lower Venezuelan output
OPEC crude oil production fell 550,000 bpd in March to 30.1mln bpd
global refining throughput fell by 2.5mln bpd in March on unplanned outages, especially in u.s.
Non-opec supply growth decelerated sharply to 2.4mln bpd in Q1, from breakneck pace seen in H2 2018
Venezuela March crude output down 270,000bpd month-on-month at 870,000bpd
OECD oil stocks fell 21.7mln barrels m/m in feb to 2.87bln barrels; stocks are 16mln barrels above 5-yr average

China says discussed remaining issues with U.S. trade negotiators

ECB's survey of professional forecasters shows cuts to euro zone inflation and growth forecasts

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