Crude oil price rises stall as non-OPEC production set to increase - IEA

摘要

LONDON (ICIS)--Crude oil price increases in past months have stalled as non-OPEC producers, mainly the US, continue to pump out product and global supply is likely to outpace demand in 2018, the International Energy Agency (IEA) said on Tuesday. However, demand is also set to increase this year. The IEA said that the International Monetary Fund's (IMF) growth projections for the global economy, revised upwards in January, had prompted it to increase its own crude oil demand projection to 1.4m bbl/day on average.