IEAReduces 3Q Demand Forecast Yet Maintains Call ForIncreased Supplies
Ina key oil market forecast ahead of the 26 June OPEC meeting, the InternationalEnergy Agency (IEA) has reduced by 500,000 b/d its prediction for the rise inoil demand going from 2Q into 3Q, but has maintained its call for increasedcrude production. The IEA now expects demand to rise by only 800,000 b/d goingfrom 2Q to 3Q, rather than the 1.3mn b/d expected a month ago (MEES, 20May).
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