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Oil Prices: Analyzing the IEA’s Oil Market Report

Robert Scott
Oil Prices: Analyzing the IEA’s Oil Market Report

On October 12, the IEA (International Energy Agency) released its Oil Market Report. In the report, the IEA cut oil’s demand growth forecast by 0.1 MMbpd (million barrels per day) to 1.3 MMbpd and 1.4 MMbpd for 2018 and 2019, respectively. The cut might be a negative development for oil prices.