LONDON - The oil market will flip into a modest deficit from the second quarter of this year, with OPEC possessing a hefty supply cushion to prevent any price rally in case of possible supply disruptions, the International Energy Agency said on Friday.
Solid growth in non-OPEC oil output led by the United States should ensure demand is met, the IEA said. The agency said it was particularly concerned about a possible further decline in production in Venezuela, where output has stabilized at 1.2 million bpd in recent months. “The relentless pace continues into 2019, when U.S. supply is expected to expand by 1.5 million bpd and account for 83 percent of non-OPEC growth of 1.8 million bpd,” it said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Venezuela's electricity crisis could trigger 'serious disruption' to the oil market, IEA warnsA nationwide power failure in crisis-stricken Venezuela could trigger 'serious disruption' to the oil market, the IEA warned on Friday. We know the USA will step in now!! Oh boy...we aren’t gonna let that happen. Well THAT will get Governments Attention since doesn't seem Anyone Cares about Poor People Starving to Death but hey - they have Oil World News Politics news TruthMatters
Source: CNBC - 🏆 12. / 72 Read more »
Venezuela's electricity crisis could trigger 'serious disruption' to the oil market, IEA warnsA nationwide power failure in crisis-stricken Venezuela could trigger 'serious disruption' to the oil market, the IEA warned on Friday. We know the USA will step in now!! Oh boy...we aren’t gonna let that happen. Well THAT will get Governments Attention since doesn't seem Anyone Cares about Poor People Starving to Death but hey - they have Oil World News Politics news TruthMatters
Source: CNBC - 🏆 12. / 72 Read more »
Just 10 stocks have accounted for a quarter of the 10-year bull market's returnThe bull market's historic 10-year run is due in large part thanks to the success of a handful of high-powered stocks, Goldman Sachs calculates.
Source: CNBC - 🏆 12. / 72 Read more »