Expected stock draws, IEA vs. OPEC…. Bloomberg

April 16, 2017 by Jim Colburn Leave a Comment

Bloomberg compares OPEC’s outlook to the IEA’s (from recent monthly reports):

“The outlook for the current quarter is no clearer. The IEA sees further progress, with demand for OPEC oil running about 1 million barrels a day ahead of production, implying a similar-sized stock draw. But OPEC sees a world with supply still running ahead of demand, which will add about 280,000 barrels a day more to inventories.”

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