International Energy: Oil Supply Will Exceed Demand in 2019
Information / Baghdad ..
The International Energy Agency said on Wednesday that the world market will suffer this year to absorb the rapidly growing non-OPEC crude supplies, even as the Organization cuts production and US sanctions on Venezuela and Iran.
The agency kept its forecast for demand growth in 2019 unchanged from its previous report of 1.4 million bpd in January.
The organization raised expectations for non-OPEC supplies to 1.8 million bpd in 2019 from 1.6 million bpd in previous estimates. Ending / 25