GENERAL

2Q Demand Estimate Reduced in Latest IEA Figures

The International Energy Agency (IEA) has reduced its estimate for second-quarter world oil demand to 45.8mn b/d in the June issue of its monthly Oil Market Report (OMR), down 0.3mn b/d from the 46.1mn b/d figure in the May OMR The June figure for 2Q non-OPEC supply is reduced to 28.2mn b/d from 28.3mn in May, primarily due to maintenance work in the North Sea in June, resulting in an additional requirement (call on OPEC crude and...