| The International Energy Agency (IEA) has warned that the global oil market’s rebalancing after its two year battle against a chronic glut of supply will continue for at least another year.
The agency said that slowdown in oil demand growth will fail to mop up the steady supply of fresh flows from countries within the Organisation of Petroleum Exporting Countries (Opec) and the growing output from those outside the cartel. Although non-Opec producers, including the US, have produced less oil this year than the one before, the IEA says that surging Opec production has offset the decline...............................................Full Article: Source
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