OEF Rapid Review Articles
According to the International Energy Agency oil stockpiles will decline by about 600,000 barrels a day in the next six months as curbs by OPEC and its partners take effect. Oil has gained about 17 percent since OPEC agreed on November 30th to trim output. The accord was expanded on December 10th with the participation of 11 non-members including Russia and Kazakhstan. The stockpile declines will only occur if OPEC reduces supply enough to maintain a target of about 32.7 million barrels a day, said the Agency.
LINK TO THE SOURCE ARTICLE:
IEA: Oil Stockpiles To Fall In First Half 2017
LINK TO THE SOURCE ARTICLE:
IEA: Oil Stockpiles To Fall In First Half 2017