The IEA said in a new report that more supply from Saudi Arabia and Russia has eased supply concerns, but that the current lull in the oil market might only be temporary with sanctions on Iran looming. IEA: Oil market sees “cooling down” this summer. The International Energy Agency said that higher output from Saudi Arabia and Russia have tamped down concerns about supply. The partial recovery in Libya has also dialed down the danger to the oil market. The IEA slightly revised up its forecast for demand growth in 2019 to 1.5 million barrels per day (mb/d), up 0.1 mb/d from last month. For this year, however, demand growth slowed in the second […]