The following are highlights of the monthly report issued by the International Energy Agency:
- The outlook for global demand growth was maintained at 1.6 million bpd this year and 1.4 million bpd in 2018.
- Global oil supply increased by 90,000 bpd during the month of September on a monthly basis and by 620,000 bpd on an annualized basis.
- OPEC oil supply is expected to increase by 700,000 bpd this year.
- Global oil markets are heading towards equilibrium.
- Global crude oil inventories and their products are expected to fall by 110,000 bpd in 2017, 200,000 bpd in 2018.
