Opec turmoil could turn IEA's balanced market into shortfall
By end-2017, Opec must pump almost 1m bpd above May's production level to keep the market in equilibrium
Fri, Jun 17, 2016 - 5:50 AM
If Opec output falls short of IEA estimates, oil stockpiles would start to shrink rapidly, according to Bloomberg calculations.
THE world's most prominent oil forecaster, the International Energy Agency (IEA), anticipates near-equilibrium between supply and demand in global crude markets next year. But if Opec members can't resolve some massive output disruptions, that will turn into a significant shortfall...