The International Energy Agency (IEA) raised its oil production forecast for 2019 by 11.76 million barrels per day (bpd) from its previous forecast of 11.8 million barrels a day. The Agency's most prominent expectations were as follows:
- IEA kept production estimates this year unchanged at 10.79 million barrels per day.
- Oil prices are expected to stabilize near $65.95 a barrel from previous estimates of $64.53.
- It raised oil forecast in 2019 from 61.95 to 62.04 dollars per barrel.
