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13.02.2019 17:04

IEA maintains 2019 global oil demand growth forecast of 1.4mln bpd vs 1.3mln bpd in 2018

  • raises non-OPEC oil supply growth forecast for 2019 to 1.8 mln bpd, from prior forecast of 1.6 mln bpd

  • OECD commercial oil inventories fell 5.6 mln bbls to 2.858 bln bbls in December from November

  • cuts forecast for demand for OPEC crude to 30.7 mln bpd in 2019 from 31.6 mln bpd

  • US sanctions on Venezuela may create problems for crude quality, not quantity

  • oil market ‘still working off the surpluses built up in H2 2018

  • Iran crude production fell to 2.72 mln bpd in January from 2.8 mln bpd in December


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