Last updateFri, 16 Aug 2019 8pm

End-User News

IEA Sees Mixed Signals for Oil in 2019

The huge increase in oil production in the second half of 2018 has reversed following the implementation of the new Vienna Agreement and the increasing effectiveness of sanctions against Iran and Venezuela. Amongst the analyst community there is an extraordinarily wide divergence of view as to how strong growth will be in 2019. The International Energy Agency (IEA) maintains a forecast of 1.4M b/d but accepts that there are mixed signals about the health of the global economy, and differing views about the likely level of oil prices.

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