From Art Berman at Oilprice.com:
In its August Oil Market Report (OMR), the IEA revised 2nd quarter 2015 demand upward 370,000 bpd from its July estimate but also revised supply upward by 140,000 bpd. Total liquids supply is 96.53 million bpd and demand is 93.5 million bpd……
….The world continues to have an over-supply problem that is slowly improving but it will take another year before the market comes into balance.
Read more at IEA: At Least Another Year Before Oil Markets Rebalance | OilPrice.com.
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