Comments by IEA in its monthly oil report
- Keeps forecast for global oil demand growth for 2018 unchanged
- At 1.5 million barrels per day
- Non-OPEC supply set to grow by 1.8 million bpd, unchanged from last forecast
- It seems OPEC+ pact have accomplished their mission of bringing oil stocks down to 5-year average
The comments on OPEC are predominantly the key points of the report. They mention that "it is not for us to declare on behalf of OPEC that it is mission accomplished", and that "if our outllok is accurate, it certainly looks very much like it".
The report release brought oil to session highs as WTI touched $67.25 earlier and Brent is still at the highs of $72.08.
