OPEC sec general Barkiondo on the son of 19 OctAnd the headlines just keep coming.
- balanced oil market in view
- the global oil demand growth has been robust
- signs of a strengthening of the trend
- expects the oil demand to exceed 1oom bpd by 2020
- OECD oil stocks have continued to fall in September to stand at around 160m dwt above 5 year average
Optimistic remarks again from Barkindo after your comments yesterday and a report that the 9month output, cut the extension may be introduced.
The WTI recovery of $5157 after the earlier fall from $51.38 to $52.20. Brent $57.19 $57.04
- consultations are underway for the Nov 30 meeting agenda
- no comment on the deeper cut necessary