OPEC Barkindo, said without any doubt that the oil market is rebalancing to accelerate the pace

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
Update Barkindo:

  • consultations are underway for the Nov 30 meeting agenda
  • no comment on the deeper cut necessary

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