Oil prices moved lower in early Thursday trading after the IEA said there may be too many factors at play to continue betting on OPEC’s production offer. Crude prices moved in parallel with global markets in the wake of the surprise U.S. election of Republican Donald Trump , dropping in early Wednesday morning trading but recovering by the end of the day. Traders shifted some of their focus away from the U.S. transition as business continued more or less as usual. The International Energy Agency said its outlook for growth in global oil demand was holding steady, noting there was little evidence to suggest robust economic expansion next year. By its estimate, OPEC, the world’s major supplier of oil, is producing […]

Posted in: IEA