Singapore — The International Energy Agency on Friday raised its estimate of world oil demand growth next year to 1.5 million b/d from 1.4 million b/d, anticipating the impact of price rises will peter out, and highlighted robust non-OPEC oil output growth. Receive daily email alerts, subscriber notes & personalize your experience. Register Now In its monthly oil market report the IEA also raised its estimates of the “call” on OPEC, or the need for OPEC crude, by 300,000 b/d in 2018 to 32.3 million b/d, and by 500,000 b/d in 2019 to 31.9 million b/d. However, following a strong first quarter this year, it said world oil demand had grown by a mere 750,000 b/d on the year in the second quarter, constrained by sharp price rises, and highlighted “risks to the forecast from escalating trade disputes and rising prices if supply is constrained.” On the supply side, […]

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